(NewsNation) — President Donald Trump announced that his administration is actively working on a plan to lower the price of groceries, particularly the price of beef.

According to a survey from Axios, 47% of Americans believe groceries are becoming harder to afford. President Trumps announcement comes as the cost of beef continues to rise at a record high, with them now being up nearly 13% in the past year.

In January, ground beef was $7.11 per pound, and by August, the price had increased to nearly $8 per pound, according to the Federal Reserve Bank of St. Louis. President Trump hasn't laid out exactly how he plans to lower grocery prices, but said he will "work his magic."

Previous administrations, including Trump’s, have worked to lower gas prices by using strategic reserves to incre

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