Bacon-wrapped hot dogs may become a luxury item if the bacon inflation doesn't slow down. So if you're planning to eat a lot of bacon in the coming weeks, expect a skinnier wallet.

The Huffington Post reports that the price of bacon has risen 14% since June 2013, with the average price of a pound of bacon at $6.11. Bacon is 21% more expensive than it was at its 1980s peak, in September 1982, Huffington Post reported. (Adjusted for inflation.)

We checked out some prices. Foie gras costs about $50/pound, but bacon is slowly catching up. Pasture-raised bacon from the online farmers' market good eggs costs $14/lb as opposed to industrial Oscar Meyer bacon at $7.49/lb from Fresh Direct

An increasingly high demand for the addictingly crispy product (everyone knows a bacon-eating vegetarian), droughts across America and the disporcine epidemic diarrhea virus -- which kills off pigs by the thousands -- are all to blame for this increasingly expensive treat. 

But the news might not be as bad as it seems. For chef Michael Citarella of The Monarch Room there are ways to extend the flavor of bacon without breaking the piggy bank. "A good quality bacon carries a lot of flavor. I use bacon in small amounts to accent some of my dishes so it is cost effective. I also extend the flavor of bacon by making it into a sauce for my Arctic char dish," says Chef Citarella.

Will bacon stop covering every edible substance and become more of a sometime food than an every meal food? Maybe when pigs can fly.