Anyone who has ever wondered how Wall Street affects our lives need only look at the unfortunate case of price-tag trickery among grocers.
As beef prices have risen, grocers are relying on a little illusion to keep consumers in the dark. Instead of pricing meat by the pound, some are pricing it by the piece.
“When you to go the meat counter and say, ‘Wow, that steak’s only $3.99.’ But it’s not a pound. It’s eight ounces,” says John Kleist, lead agricultural hedge strategist, eBOTTrading.com, a brokerage and research firm.
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