The latest update from Kantar covering the 12 weeks to 23rd January 2022 found that beef has now overtaken lamb as top protein in the market for price inflation.
Beef inflation is now at 8.6% against 7.3% for lamb. Despite this rise, beef remains a cheaper protein per kilogram, with an average price of £8.34.
Performance of fresh meat and poultry remained consistent over the festive period as well as the new year with a decline of 9.7% year-on-year, although it’s still up 6.2% relative to 2020. Kantar said that, in volume terms, the market is now “relatively flat compared to two years ago” (up 0.3%), suggesting the market is starting to return to pre-pandemic shopper behaviour.
The stronger value performance can be attributed to higher prices, which remain a key factor within this market, with prices 5.3% higher than last year.
Bacon is the only sector within meat, fish and poultry to become cheaper. Prices have dropped by 1.4%, or 8p per kilogram compared to last year. However, despite the meat’s greater affordability, the number of Brits buying bacon is still falling, with this metric down 4.2% against last year.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
