Who doesn’t love a good steak? Well, vegans and vegetarians, maybe, but when dinner time rolls around, there are few meals that get most of us to the table quicker than a perfectly cooked steak hot out of the frying pan.
Steak has long been synonymous with good eatin’, but it has also always been considered a luxury item. A top-notch example like Japanese wagyu is up there with the most expensive foods on earth. At Scottsdale’s acclaimed Roka Akor, for instance, real-deal Tajima Kobe beef will set you back $68 an ounce, or almost $1,100 a pound! And even a “normal” steak will cost a pretty penny at a good steakhouse, with prices easily topping $50 or $60 for a rib eye or filet mignon. (These are America’s best steakhouses, according to Yelp.)
The price of most foods, including steak, has seen an increase in recent months, due in part to supply chain shortages. But inflation has always been an aspect of everyday life, and it’s obvious that a dollar doesn’t get you nearly as far as it used to. That said, you might be surprised to learn that the cost of a pound of sirloin steak in 1950, when adjusted for inflation, is almost the same as the cost today.
To determine the cost of steak the year you were born, 24/7 Wall St. calculated the average retail price of a pound of boneless USDA Choice sirloin steak at home in U.S. cities for every year from 1935 to 2020. Based on data from the Bureau of Labor Statistics, steak prices were adjusted using the annual consumer price index for beef and veal. For each year, we also adjusted steak prices for overall inflation using the annual consumer price index for all items. (For a more season-specific comparison, check out the cost of a Thanksgiving meal the year you were born.)
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