FAYETTEVILLE, Ark. (KNWA/KFTA) – Thanks to inflation, meat prices are on the rise nationally and Northwest Arkansas is not immune.
Local restaurant owners and grocers tell us meat prices have shot through the roof which will affect not only their wallets but yours too.
“We have higher case prices than we have ever had and were making less money on it than we ever have before,” said Richard McGinnis, owner of Richard’s Meat Market.
McGinnis said in several categories the cost of meat has nearly doubled to prices he’s never seen before.
“Not like this, they’re processing product now and I’ve never seen it this high without anyone being able to tell me what is going on,” said McGinnis.
One local restaurant owner tells me the inflation we’re seeing now is even worse than anything he saw at the height of the pandemic.
“Price trickles down to us and we have to give it to the customer. Right now I’m paying $18 a pound for beef tenderloin, normally at this time of year, I might be paying $10 or $11. So my menu prices have to change,” said the owner of Herman’s Ribhouse, Nick Wright.
These small business owners are saying to survive they can’t eat the cost alone, so they’re thankful customers have been understanding of a price increase on their end as well.
“Here at Herman’s, it might not affect us the way it does other businesses because we have a great clientele and they are wonderful, but it is going to hurt a lot of people,” said Wright.
Wright adds what hurts him the most is this is coming at a time where small businesses were just beginning to see the light at the end of the tunnel. He hopes prices start to return to normal levels before teetering restaurants have to shut their doors for good.