True extent of rising Irish food costs revealed in latest figures

Consumer prices in Ireland are up by almost 5% in the past year, with food jumping by 8.6% in that time according to latest figures. 

Struggling households grappling with the cost of living crisis will not be surprised to see the increase in the cost of shopping in that time, as food costs soar. 

In that time, energy costs have also increased dramatically, provided a second blow for hard-pressed households. This rising energy costs have led to a rise in electricity bills and home heating costs. 

The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 4.6% in the 12 months to July 2023 and increased by 0.2% since June 2023.

This compares with HICP inflation of 4.8% for Ireland in the 12 months to June 2023 and an annual increase of 5.5% in the HICP for the Eurozone in the same period.

Looking at the components of the flash HICP for Ireland in July 2023, energy prices are estimated to have increased by 0.2% in the month and decreased by 1.3% over the 12 months to July 2023.

Food prices are estimated to have risen by 0.2% in the last month and increased by 8.6% in the last 12 months.

The HICP excluding energy and unprocessed food is estimated to have risen by 5% since July 2022.

Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for July 2023 on 31 July 2023.