2021: Ribeye = $21.99/lb2021: Ribeye = $21.99/lb
Parker Lewis first posted about the price of dry aged ribeye steak at Whole Foods in Austin on March 19, 2021:
He has subsequently updated this price from the same store in a quest to demonstrate anecdotally the real rate of inflation.
2024: Ribeye = $28.99/lb2024: Ribeye = $28.99/lb
His next post was three years later on April 24, 2024:
2025, June: $32.99/lb2025, June: $32.99/lb
His next post was June 13, 2025:
2025, October: $34.99/lb2025, October: $34.99/lb
His next post was October 9, 2025:
2026, May: $37.99/lb2026, May: $37.99/lb
His latest post was today, 12 May 2026:
Five years ago, the same cut of meat was almost half the price.
So, there you have it. We've got inflation under control and it's surely less than 3 or 4% per year.
The price of beef can go up besides the inflation money printing.
It’s a cool talking point but I also think this is lazy economics
Every time Parker posts this he gets a lot of reasonable pushback (to which he often responds -- check out the most recent tweet of his on this).
It is very flawed as far as being a real measure, yet, there is something clean and simple about checking the price of a single good at the same store over years. It makes the point in a way that "baskets of goods" and more nuanced inflation adjustments simply don't.
https://twiiit.com/parkeralewis/status/2054324683323978207
As Optimism says this item isn't in the basket anymore,
I wonder what item always has been in there and always will be and can it be historically priced, like bread or milk or something
But then could they manipulate the production cost to cook the books no pun intended
Also proof of steak 😋 come on, could've used it lol
Isn't this why people talk about the BigMac Index? But even so, everything is changing: loaf of bread is smaller or has less quality ingredients or isn't made as well.
I recently paid 29.9/ lb for a wet-aged, grassfed ribeye. Great cut of meat. My butcher doesn't sell dry aged.
It was probably much better quality than Whole Foods -- which barely can be called a butcher at all.
It's transitory anyway, right?
You're forgetting one thing: rib eye is no longer on the common shopping list. This is no wonder; have you seen how expensive that is nowadays? So we took it out of the basket we calculate CPI against.
/sBrilliant!
We should keep removing more things off the list if it helps curb inflation further
Parker dropping more truth with steak pics than the Fed with their dot plot.
Normalize fed governors posting ribeye price photos before FOMC meetings
When do we get to $100/ ?
2042?
i think ill take the under
Quality goods have really gone up since COVID.
All I can say is: Thank God for Bitcoin!
https://twiiit.com/parkeralewis/status/1373054276143095818