AXIOS (Kelly Tyko) - Why high beef prices are driving more Americans to steakhouses
Steak-hungry Americans are skipping the meat aisle — and heading to restaurants instead. Why it matters: Sky-high grocery prices , especially for beef, are reshaping how people consume one of the most expensive proteins — and narrowing the gap between cooking at home and dining out. - Steak has become one of the most expensive items at the grocery store. - The average price for uncooked beef steaks is now about $12.74 per pound — a record high, federal data shows . Driving the news: Darden Restaurants said Thursday its LongHorn Steakhouse chain posted 7.2% same-store sales growth, far outpacing other brands in its portfolio. - At the same time, executives pointed to "double-digit demand destruction" for beef at retail — a…
Steak-hungry Americans are skipping the meat aisle — and heading to restaurants instead. Why it matters: Sky-high grocery prices , especially for beef, are reshaping how people consume one of the most expensive proteins — and narrowing the gap between cooking at home and dining out. - Steak has become one of the most expensive items at the grocery store. - The average price for uncooked beef steaks is now about $12.74 per pound — a record high, federal data shows . Driving the news: Darden Restaurants said Thursday its LongHorn Steakhouse chain posted 7.2% same-store sales growth, far outpacing other brands in its portfolio. - At the same time, executives pointed to "double-digit demand destruction" for beef at retail — a…Open