Minced beef prices drop
Research from comparison website mysupermarket.co.uk has revealed that grocery prices have fallen to their lowest level in more than a year, with minced beef dropping 2.77%.
According to the research the cost of a basket of 35 popular products cost £84.83 in February, the lowest recorded price since the mySupermarket Groceries Tracker was launched in late 2014.
mySupermarket’s Groceries Tracker monitors the cost of the same 35 most commonly bought grocery products on a monthly basis.
When compared to a year ago, the same basket of goods in February 2016 was 4% lower, a saving of £3.76 per shop.
Some products dropped in price by almost 14% compared with the previous year.
The low prices have been attributed to the supermarket price war continuing to drive competition among retailers, particularly with the announcement earlier this week that Amazon customers will now be able to purchase Morrisons products via the online seller.
In the meat sector, the biggest drop in price when comparing the average price of products in January and February 2016 was minced beef.
However, deli bacon and ham prices also fell, declining by 0.39%, whilst sausage and chipolata prices fell 0.44%.
The cost of fresh chicken pieces in the same period rose by 1.02%.
The mySupermarket Groceries Tracker covers nearly 5,000 products across the supermarkets: Tesco, Asda, Aldi, Sainsbury’s, Ocado, Waitrose and Morrisons.
Prices taken are an average and cover the whole of the stated month. To represent a ‘normal’ weekly shop, certain products are not included in the mySupermarket Groceries Tracer, which disproportionately inflate prices. For example, items that are organic, free range, Fairtrade, gluten free are not included in the research.