How weight loss jabs could increase the cost of meat by up to 20 per cent
Why weight-loss jabs could push up the price of meat
- A food pricing expert predicts meat prices could increase by up to 20 per cent, partly driven by heightened demand for protein from consumers using weight-loss jabs.
- Oisin Hanrahan, CEO of Keychain, states that individuals on GLP-1 medications are seeking nutrient-dense protein sources such as beef, lamb, chicken, and pork.
- Other factors contributing to the rising cost of meat include global insecurity, energy prices, crop diseases, and adverse weather conditions.
- Figures from Worldpanel analysts show that inflation on fresh meat stood at 14.5 per cent for the four-week period ending 2 December.
- Hanrahan advises consumers to be flexible when shopping for food, suggesting they buy items on offer rather than adhering to rigid lists, as high food prices may represent a “new normal”.