Our beef with meat: Your next barbecue just hit a snag
- Beef prices have increased 25% in the last five years.
- Legs of lamb retailing at $35.
- Biggest rise in more than 20 years.
Throwing a steak on the barbecue is becoming a luxury for many Australians as the cost of beef registers $23 per kilogram, representing a rise of more than 25% in the last five years according to data compiled from the Meat and Livestock Association.
The Sunday roast is also now more challenging for the country’s ‘lambassadors’ with a leg of lamb now retailing for more than A$35 in Australia’s major supermarkets.
Poultry has provided consumers with somewhat of a pricing reprieve with chicken retailing at A$5 per kilogram.
Whilst drought through the eastern states of the country has impacted supply, strong overseas and domestic demand has pushed the beef price from $15/kg in 2017 to $23/kg in 2021.
As a marker of inflation, the most recent surge in beef prices is the largest increase in more than 20 years.
While Australians show no signs abandoning the long held custom of barbecuing, many will have a sharper eye on price next time they visit the butcher.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you