Inflation: Protein prices decline for the first time since 2020

Yahoo Finance Live's Brian Cheung breaks down the chart of the day.

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BRIAN CHEUNG: Time now for our Chart of the Day, and there's no reprieve that we've seen in that inflation report this morning. But take a look at this. This shows price levels, not rates of change, for protein. So this is meats, poultry, fish, and eggs. You actually saw prices decline between May and June. That's the first time since the beginning of the pandemic that we've seen a decline in prices, most of this driven by beef and veal, which fell by 2.3% month over month. That more than offset the big bump that we saw in frankfurters ahead of the July 4th holiday, so.

AKIKO FUJITA: I gotta say, I was looking at that. How often do you buy meat and poultry? I feel like eggs are the one that I always-- or maybe I'm not--

BRIAN CHEUNG: Well, I mean--

AKIKO FUJITA: I'm not really a carnivore here.

BRIAN CHEUNG: It is certainly a case that post-pandemic, there's been a shift in the terms of the types of protein that people are buying.

AKIKO FUJITA: Well, also because of the price, too, right?

BRIAN CHEUNG: Exactly.

AKIKO FUJITA: People are looking at--

BRIAN CHEUNG: Chicken being cheaper. There's been-- I think there was a "New York Times" article yesterday about how chicken has become very vogue now. A lot of people try and just buy the whole chicken, because it's cheaper if you buy the whole chicken, as opposed to, like, buying the skinless.

AKIKO FUJITA: Is that new? I've been buying whole chicken.

BRIAN CHEUNG: Well, I mean, we might have recipes for, you know, like, a little Hainan chicken, right? Like, just boil the whole thing and just put some--

AKIKO FUJITA: Put the ginger.

BRIAN CHEUNG: The ginger and the--

AKIKO FUJITA: Throw it all in there.

BRIAN CHEUNG: There we go. We should start a cooking show.

AKIKO FUJITA: Yeah, yeah, yeah, that sounds good. I'm craving Hainan chicken now.

BRIAN CHEUNG: Tough recipe, though. That's a tough one.

AKIKO FUJITA: It is. It's tough to perfect. We'll try to share a recipe once we get one.