UK Beef Prices Stabilise as Consumers Seek Value

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The rapid rise in UK beef prices appears to be levelling off, according to the latest market data.
While year-on-year inflation for beef and veal remains high at 27%, the monthly increase has slowed significantly, suggesting that prices may be reaching a plateau.
The high prices have had a clear impact on consumer behaviour, with a 7.4% decline in the volume of beef purchased compared to last year.
However, more recent figures show a slight recovery in volumes, indicating that shoppers are beginning to adjust to the new price reality. This adjustment has been accompanied by a noticeable shift in purchasing habits, with consumers increasingly opting for more budget-friendly cuts.
Sales of diced and stewing beef have seen a significant uptick in the latest reporting period, as have convenient and often more affordable options like ready-to-cook meals. In contrast, more expensive cuts such as roasting joints have seen a decline in volumes, although there has been a recent seasonal increase in the run-up to Christmas. The trend suggests that while consumers are still buying beef, they are making more considered choices to manage their household budgets.

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