Memorial Day Beeflation
Inflation tightens grip ahead of Memorial Day weekend

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Thursday, May 21, 2026
 
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Possible tariff relief and restaurants altering their menus

Earlier this month, the White House eyed tariff relief on beef imports as another lever for lower prices. The Wall Street Journal reported that Trump was on the verge of signing an executive order to import more beef into the U.S. at lower tariff rates.

The administration had already given a green light for a modest increase in Argentine beef imports in February. Yet Republicans and cattle ranch groups balked at the latest proposal.

“We can’t import our way out of this problem,” USCA President Justin Tupper said in a statement. “We will continue in our conversations with the Administration on this matter and working for U.S. producers and the American consumers who depend on them.”

The White House was forced to shelve the planned order for now. The Iran War continues rippling through the food supply chain as higher diesel fuel prices add to the cost of transporting beef and many other food products to grocery shelves..

Eating out is also a more expensive habit to maintain, and beef inflation is rewiring short-term plans for fast-food chains and beyond. For example, McDonald’s plans to expand their menu to include more chicken to account for both customers and franchisees getting squeezed by price hikes.

“Certainly right now in the environment that we're in, I think chicken is benefiting relatively to its better cost position relative to beef,” McDonald’s CEO Chris Kempczinski said in a recent Q1 2026 earnings call. Other restaurant chains like Texas Roadhouse simply raised menu prices at the start of the year’s second quarter.

Whether in the backyard or ordering at a restaurant, beef-loving families will be paying a premium to satisfy their carnivorous appetites. If current trends hold, they won’t be joining the vegetarian ranks anytime soon.

— Joseph Zeballos-Roig

Joseph Zeballos-Roig is Quartz’s Washington Correspondent. Email him at jzeballos-roig@qz.com and follow him on X at @josephzeballos.
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Stat of the week

$13.02
The average cost of a pound of uncooked beef steak is at a record high of $13.02, according to the BLS. Beef steak cost $10.91 when Trump took office in Jan. 2025, amounting to a 19% price increase.

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