The price of our basket rose for the second survey in a row and is now 0.2% more expensive than on December 5. The biggest change this month was in rump steak, up 12.9% and now 16.8% more expensive than on January 17 last year.
MLC marketing director Richard Lowe said farmers had seen some of the benefit of this increase. “Beef cattle slaughtering levels at the back end of 2005 were tighter than at the same time in 2004, and the price for farmers was about 10% higher, helping them deal with raw material increases.”
He added: “Mince should work the same, but it is typically price competitive and heavily promoted by retailers, who use it as a key price indicator to consumers.”