Grocery prices in Irish supermarkets rose by almost 13 per cent in the 12 months to the start of this month, new data from retail analyst Kantar suggests, reports The Irish Times.
The numbers also drew attention to the poor weather in July, when sales of ice cream and barbecue-related products were notable success and off-season products, including soup, saw an unexpected increase.
Although double-digit price increases will put further pressure on Irish households ahead of the fall and winter months, inflation has fallen by around 2 per cent since last month.
The latest data shows that the inflation rate was 12.8%, compared with 14.7% in the previous year. recorded last month and nearly 17 percent. just three months ago, reports The Irish Times.
The report also suggests that Ireland’s takeaway grocery sales rose 6.8 percent in the four weeks to August 6, 2023, with the average price per pack up 8.8 percent, according to the latest data from Kantar. Inflation is the main reason for the increase in sales, not the increase in purchases.
“This is the third month in a row where there has been a drop in grocery inflation, which is welcome news for Irish consumers, although the rate is still incredibly high. Compared to last month’s grocery inflation rate of 14.7 per cent there has been a significant drop of 1.9 percentage points. This is the lowest level we have seen over the past 10 months, and we expect to see a continued gradual decline in inflation rates over the coming months,” said Kantar’s business development director Emer Healy.
Dunnes, Tesco and Lidl all increased their combined market value growth this month. The gap between the top three retailers is still very close, with Tesco and Dunnes having the highest share combined.
Dunnes holds 22.6 percent, with growth of 12.7 percent per year. Tesco captures 22.6 percent of the market, with growth of 12.6 percent year-on-year.
Supervalu captures 20.9 percent of the market with 5.8 percent growth Lidl has 13.8 percent share with 12.7 percent year-on-year growth, while Aldi has 12.6 percent with 7.7 percent year-on-year growth .
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