Families may have to spend up to €780 more on groceries over the next year than in 2021.
Prices of basic staples such as bread, milk, pasta, tea and butter have risen by up to a third in the past month.
A new report shows that the cost of general groceries rose 5.5% in Ireland throughout 2021, with retail experts saying more price increases are coming.
The data, published by the Central Statistics Office, showed that the price increase recorded last year was one of the largest in Ireland in 20 years. The report also showed that the highest increase occurred during the month of December.
Looking at consumer prices across stores in Ireland, the Central Statistics Office report showed that there is a steady increase in most household items.
The research showed that the price of basic staples such as bread, milk and butter has risen by 10 to 30 percent in recent weeks. The price of bread alone rose 5.3% throughout 2021.
Butter that was included in the ‘oils and fats’ category saw a 4.4% increase along with various cooking oils.
Pasta prices increased 6.4% while poultry prices increased 3.5%.
Beverages also saw their prices rise, with coffee growing by 2.5% and tea steadily by 1.9% over the year.
These percentage increases show that the average weekly store price has increased by €15, which could lead to an annual increase of €780.
Supermarkets have suggested that inflation may be the main reason for the increases.
But a Lidl spokesperson insisted they were doing « everything possible » to keep prices to a minimum for consumers.
While Aldi’s John Curtin said that « components and commodity costs have increased significantly ».
Utility bills have also risen with inflation by more than 500 euros.
Fuel prices are still close to their all-time highs.
AA Ireland figures show that the national average price for gasoline is currently 170.3 cents a liter, while the average price for diesel is 160.5 cents a liter.
Anna Cullen of AA Ireland said: “Looking at the January 2021 figures, the average fuel price was 120.8 cents for diesel and 129.9 cents for petrol.
This means that the price of gasoline has increased by 31% in the past year, and there has also been a 33% increase in the price of diesel.
Prices this month are on par with December 2021, with a slight decrease of about 1%. It’s down 1.5% from November’s numbers, when AA Ireland announced record fuel price hikes.
Meanwhile, a separate report shows that Ireland is the 16th most expensive country in the world.
According to the price comparison website Numbeo, Ireland’s ranking in 2022 in 16th place shows a decrease of three places.
While Ireland is cheaper than Switzerland, Norway, and Australia, it is significantly more expensive than the United Kingdom, the United States, France and New Zealand.
Bermuda ranks first as the most expensive country, while Pakistan is reported to be the least expensive.
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