The Association of Independent Meat Suppliers (AIMS) has shared its latest inflation report, finding that during June, average prices across the red meat and poultry sectors fell by 0.41%.
During June, AIMS found that overall beef prices had dropped by 2.6%.
Tony Goodger, head of communications at AIMS, commented: “It’s way too early to suggest that meat and poultry inflation is behind us, however with overall chicken inflation flatlining over the month, and lamb (+0.97%) and pork (0.85%) just nudging up slightly, the 2.26% fall in beef prices shows that, overall, during June the category’s inflation fell by 0.41%.”
AIMS highlighted that all three of the surveyed steak cuts dropped in price, suggesting that consumers had switched away from the high price per kg, which reportedly lead to falling demand. The Association found that all other beef prices were unchanged on the month.
In the lamb category, prices were either slightly down or unchanged. The exception was shanks (+10.93%), which took the average price rise just shy of 1%.
Goodger continued: “There has been considerable talk of consumers switching away from beef and lamb and towards pork and poultry. And while boneless pork legs (+5.9%) and pork mince (+2.76%) have risen, the pork fixture again remains by and large unchanged.
“Chicken is a somewhat mixed bag of ups and downs with whole birds (+2.72%), drumsticks, wings and legs all seeing sub 0.5% increases, whilst the ever-popular breast and thighs all saw marginal falls.”
Pork and chicken see price falls
Year-on-year inflation now stands at sub 1%, at an average +0.64%, which AIMS said was a position driven entirely by an overall 5.16% increase in lamb cuts, the most notable of these being the bone-in shoulder (+14.09%).
Goodger said beef prices had relaxed over time: “Last year’s record prices for beef have calmed, and while roasting joints remain 12.73% higher, as with the monthly figures, it is the falls in the price of beef steaks that have taken the annual figure to a 0.97% drop.
“The biggest falls have come with pork (-3.28%) and chicken (-3.09%), with cuts such as chops & loin steaks, breast portions and thighs all falling by around 10%. Only chicken wings have really risen (+9.95) over the last year driven, I believe, by fast-growing demand from the out-of-home QSR fried chicken sector.
“The coming two months will really provide a much clearer view as to whether meat and poultry price inflation is behind us, and then on into the autumn I would imagine that the supermarkets will be under pressure to keep all prices as competitive as possible ahead of the end-of-year Christmas period.”
