ISTANBUL

US President Donald Trump announced Friday that he asked the Department of Justice (DOJ) to "immediately" begin an investigation into the meat packing companies, who he claimed are driving up the beef prices through "illicit collusion, price fixing, and price manipulation."

"We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers, who artificially inflate prices, and jeopardize the security of our Nation’s food supply," Trump wrote on his Truth Social platform.

He stated that action must be taken" immediately" to protect US consumers, combat illegal monopolies and ensure those firms are not "criminally profiting" at the expense of the American people.

"I am asking the DOJ to act expeditiously," he added.

Retail prices for beef steak rose 16.6% and 12.9% for ground beef in the year ending in September, according to data from the Bureau of Labor Statistics.

The average price of a pound of ground chuck, which is richer mince made from the neck and shoulder of cows, increased from $5.58 to $6.33 in September.

The general food inflation rate of 3.1% in September has been exceeded by the price increases in beef.