Alcohol, meat, fruit and vegetables seen as pricey, says research

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Alcohol, meat, fruit and vegetables seen as pricey, says research
Alcohol, meat, fruit and vegetables seen as pricey, says research

Food and drink are pricey in Ireland, with alcohol, meat and fruit, and vegetables among the most expensive items, according to a market research firm.IReach said its survey of just over 1,000 people came after the EU statistics office, Eurostat, found that the level of Irish food and alcohol prices was among the highest in the world.
It found that almost everyone in Ireland believes food and drink are expensive with most citing the prices of alcohol and meat, as well as many saying that fruit and vegetables and bread and cereals were also pricey.“Nine in 10 Irish adults wish food and drink was less expensive in Ireland, with three in five saying Ireland should put laws in place to lower food and drink costs”, according to iReach, while around two-thirds of the survey believe “Ireland should put laws in place to lower food and drink costs”.The CSO’s latest inflation figures suggest that alcohol prices have risen well ahead of the overall Consumer Price Index, which shows overall annual price rises of only 0.5%.The CSO figures also suggest the prices of a wide range of food items are lower than 2016, including bread and pizza, many types of meats and fish, as well as milk and eggs.The prices of butter and potatoes stand out as being higher than in 2016. The rate of increase in Irish grocery items has slowed sharply since the UK’s summer 2016 referendum to quit the EU and the subsequent sharp slide in the value of sterling against the euro.
That meant the prices of the many grocery items that supermarkets here ship from across the Irish Sea are substantially cheaper.However, there are signs that Irish grocery price inflation had started to take off again. A survey by market researcher Kantar suggests the prices of groceries at supermarkets in Ireland have risen sharply.Shoppers spent €2.49bn at the tills at supermarkets in the 12 weeks to mid-July, while grocery price inflation eased but remained at an elevated level of 2.8%, figures published earlier this month showed.The survey also showed spending at the five largest supermarkets as well as smaller shops of €2.49bn was up 2.7% from a year earlier.READ MORECRH commits to UK business as it defends itself against activist criticism
Source: Business News