Analysis Meat
Production price of meat decreases, consumer price increases
The production prices of meat have significantly decreased in July compared to 2023, while consumer prices increased. This is evident from price indexes of the European Union. While beef and pork became more expensive for consumers, the price of chicken did decrease slightly.
The production prices of meat have decreased compared to a year ago. In July 2024, they were on average 2.25% lower. The EU Meat Producers Price Index stood at 143.70 points in July. January 1, 2015, serves as the reference point and has a value of 100 points. Compared to June, the production price of meat did increase by 1.41%.
The EU Meat Consumer Price Index has risen to 140.37 points. Compared to the previous year, the consumer price of meat in the European Union increased by 1.16%. On a monthly basis, the consumer price of meat rose by 0.24% in July. This means that the meat price in July increased more on a monthly basis than in previous months.
Producer prices of chicken volatile
The production prices of poultry meat decreased by 2.56% in July compared to the same month in 2023. The EU production index is now at 136.2 points. However, the producer prices of chicken appear to be quite volatile. Over the period of a month, the poultry meat index increased by 0.6%. This is just the tail end of a prolonged increase. Compared to the low point in February 2024, the index increased by 2.4%, reaching 133 points that month.
Unlike beef and pork, the consumer prices of chicken have also decreased, although the decrease is less pronounced. Compared to a year ago, chicken meat is 0.97% cheaper for consumers. The consumer price index was at 139.14 points in July. Over the period of a month, the consumer price of chicken did increase by 0.4%. This increase is about four times stronger than the previous month.
Beef and pork prices steadily rise
The European Union does not keep separate indexes for the production prices of pork and beef. However, there are consumer indexes for both beef and pork. Both indexes show a gradual increase. The beef index increased by 1.61% in July compared to the same month a year earlier (reaching 146.32 points). On a monthly basis, the consumer price of beef increased by 0.55%. The index remained almost stable the previous month.
The consumer price of pork also noted a significant increase. Compared to the previous year, the consumer price of pork increased by 2.15% in August (reaching 131.40 points). In July, the consumer price of pork increased by 0.12% compared to June. The price increased about twice as fast the month before.
