Surging meat prices bite chunk of household budgets: how to save

Prices of popular proteins have surged, but there are ways to save money when shopping for your next BBQ.

Meat prices have been climbing sharply and are set to stay high, prompting many shoppers to consider ways to trim their spending.

Drought, floods, war, Covid-related squeezes and surging oil prices and inflation are pushing up prices for shoppers everywhere, but there are ways to save on popular proteins without transforming into a vegetarian or vegan.

New data from grocery app Frugl shows the humble sausage has hit shoppers with the biggest price rise, up more than 18 per cent in a year, while both rump steak and pork shoulder have climbed 11 per cent.

However, some foods such as bacon and salmon have had no price increases, and bacon has become cheaper in some stores.

Frugl Grocery CEO Sean Smith says weather events such as recent floods and droughts have put pressure on farmers, adding to Covid’s closed borders shutting out international workers and causing labour shortages.

“Then the war in Ukraine has put pressure on the global supply chain, meaning less resources, so prices have risen dramatically and quite suddenly because supermarkets cannot continue to absorb these rising costs,” he says.

Smith says meat prices are not expected to fall, but rises for the rest of this year “won’t be as drastic” as what shoppers have already seen in 2022.

Sort My Money founder David Rankin says higher meat prices are a longer-term shift impacted by local and global factors including drought, war, oil and transport costs, global supply and livestock prices.

“It goes beyond the supermarket shelves – it’s here to stay,” he says.

“I think we are in for higher meat prices for the foreseeable future and we have to adjust our habits accordingly.”

There are several ways to protect your household budget from rising meat prices.

Rankin says people don’t need to become vegetarians and avoid meat completely “but you can look at dishes where you don’t have to use meat”.

“You have to get more savvy about when you shop – buying in bulk and freezing meat can be a good way to go,” he says.

Frugl’s Smith also suggests bulk buying. “Upsizing from a 500g product to 1kg or 2kg is a great way to save a few dollars per kilo – while it seems like you’re paying more at the time, you’ll find that it’s actually cheaper in the long run while you can enjoy more meals,” he says.

Shoppers should check for in-store discounts and search for promotional stickers on products about to past their use-by date, Smith says. “Use these for dinner that night or freeze for later,” he says.

People who shop with a list usually save more money because they avoid impulse-buying, so mapping out meal plans, using apps to make lists and compare prices, or searching for specials online are other ways to save.

“Stop at the in-supermarket deli and talk to the butchers – the people behind the counter have a wealth of knowledge, and they might be able to help you make smart purchase decisions,” Smith says.

“Buying these cuts might also include some savings so make sure to strike up a conversation next time.

“Writing down at least five meals for the week will give you a chance to see what ingredients you need for the whole week and can allow you to do your big shop once a week instead of going every couple of days.”

MEAT PRICE RISES IN THE PAST YEAR

Beef sausages up 18.5%

Rump steak up 11%

Pork shoulder up 11%

Regular mince up 8%

Whole chicken up 8%

Leg ham up5%

Lamb chops up 4%

Chicken breast up 4%

Source: Frugl, based on prices in major supermarkets between 2021 and 2022

Originally published as Surging meat prices bite chunk of household budgets: how to save