If that's still too pricey, a beef lover might start making other tradeoffs, like serving hamburgers twice a week instead of steak one night and hamburgers another, or buying smaller steaks.
When food prices go up, low-income households are hit hardest because they're forced to spend more of their disposable income on food. But economists say most families, even those with more financial flexibility, often make tradeoffs to keep their grocery bill from getting out of hand or to counterbalance higher prices for things like gas or medical expenses.
Korey, 42, of Katy, Texas, said she and her husband, a salesman in the oil and gas industry, want to provide what they consider a normal family life for their kids. That means buying decent clothes and shoes and being able to fund reasonable activities, like recreational baseball or a band trip.
But those things add up, and Korey said she realized that if she wanted to keep the family budget intact—and continue to put aside a bit for her kids' college funds—she needed to start paying closer attention to rising food prices.
"When you want to be able to provide those things for your kids, it's like, "Why do I want to pay $7 for orange juice?" she said.