Prices rise significantly for Red Meat in supermarkets

Must See 13/11/2018

Red meat prices could rise over summer as the latest statistics reveal lamb chop prices hit a record high last month.

Statistics New Zealand figures show lamb chop prices were up nearly 8 percent to $17.12 a kilogram in October.

The cost of sausages also rose by 4.9 percent to $10.30 a kilogram, which could be a sign of rising meat prices heading into summer. 

"With summer approaching, these price rises will make meat for the barbecue more expensive," consumer prices manager Geraldine Duoba said.

The price increases follow falls in the New Zealand dollar and strong demand for exports of New Zealand meat, especially lamb.

These increases contribute to a 2.5 percent rise in the price of meat and poultry in October, the biggest monthly increase since January 2016. 

However, some meat prices have dropped back. Sirloin and porterhouse steak prices dropped back from their record high in September to $30.72 a kilogram. 

Vegetable prices have also fallen with a 17.4 percent drop in price since September. 

"Tomatoes, courgettes and lettuces all had seasonal price falls this month," Ms Duoba said.

These prices usually continue to fall as summer goes on. 

Newshub.