Our basket has recorded a rare rise of 0.8% in the six weeks since the last survey, but is still 3.4% cheaper than 12 months ago and is at its second-lowest level since the survey began on January 10 last year.
Rising beef prices were responsible for the increase, following a 12.7% increase in the price of rump steak and a 3.5% rise in the price of mince.
This is in stark contrast to the heavy discounting of the previous survey. Could this be an early indication of a beef price recovery? National Beef Association chief executive Robert Forster said he believed that the beef prices indicated in our last survey had been unsustainable and retailers had realised this. He added: "Prices are still unsustainable but the idiocy factor has gone."
Without the beef price rises, the value of the rest of our basket would have fallen 1.6%, following falls in the prices of whole chicken, chicken fillets, and breaded cod.