Official statistics showed food-price inflation is now close to a two-year high.
High-end meat cuts, such as striploin steak, is now more than €5 dearer per kilogram than last year. Roast beef is €3 more expensive than last year.
Some meat cuts are up by 26pc in price. This is forcing families to buy cheaper cuts of meat and opt for discounted products.
Jumps in the cost of grocery prices are set to pile pressure on the Government ahead of next month’s budget.
Inflation figures from the Central Statistics Office (CSO) show food prices rose by 5.1pc in the year to August.
This is the highest rate of inflation for food and non-alcohol beverages since December 2023.
Food prices are continuing to rise
It was one of the main factors pushing overall inflation back to 2pc in the year to August. This is up from 1.8pc in July, the CSO said.
Household staples were big movers upwards in price. CSO statisticians recorded rises in the prices of cheese, butter, milk and bread.
There was a decrease in the price of a 2.5kg bag of potatoes – falling by 35c – when compared with August last year.
Beef is getting more expensive. Photo: Damien Eagers
Today’s News in 90 Seconds, Friday, September 12
The cost of sirloin steak is up almost €5 per kilo. CSO research found the price per kg is now €21.95, a rise of €4.70 from August last year. This is a 26pc rise.
Striploin steak is now almost €29 a kilo, an increase of €5.46, or 23pc.
Topside or rib of roast beef per kilo is up €3 in a year to €15.64. This is a rise of 24pc in a year.
A whole leg of lamb per kilo is €3 dearer on last year. It is now €17.70, a rise of 17pc.
A fresh fillet of cod, per kilo, is up more than €4.50 in the past year to €25.26.
There continues to be upward pressure on meat prices and dairy products
Two litres of full-fat milk is now 28c dearer than a year ago at €2.47.
A pound of butter is now €4.85, a rise of 91c on the year. The CSO includes both branded butter, such as Kerrygold, and the own brands sold by supermarket chains in this calculation.
The cost of Irish cheddar cheese per kilo is up 93c to €11.43.
Independent economist Austin Hughes said food prices would continue to increase for a while yet because the farm-gate prices are rising so fast.
“There continues to be upward pressure on meat prices and dairy products,” he said, adding that consumers should get used to high food costs.
A pound of Kerrygold butter has soared in price
“High prices for food are the new norm,” he said, adding that that demand for meat and dairy products was strong, but supply was limited.
Mr Hughes cited a big drop in the size of the national cattle herd at a time of growing demand for food as a key factor that means farm-gate price rises are feeding into higher prices on the shelves.
Food economist Ciaran Fitzgerald said the number of beef cows (sucklers) was down by 400,000 in the last 10 years.
Farm-gate prices are up almost 19pc in the past year.
The continuing increases in the cost of groceries is prompting consumers to buy cheaper meat cuts and forcing people to reduce their savings to meet the rise in prices, according to a recent survey conducted by iReach Insights on behalf of Aviva that polled 1,000 people nationwide.