Irish should expect to pay 1100 euros more for groceries in 2023

DUBLIN, Ireland: Irish households are expected to pay an additional 1,100 euros for groceries in 2023, compared to 2022.

Suffering from record levels of inflation, Irish families should expect to pay an extra 1,159 euros for food in 2023, said industry observers.

A price breakdown shows that grocery prices have increased 16.3 percent in the 12 weeks to January 23. This is the highest increase since tracking began, according to data firm Kantar.

In a news release, Kantar warned that Irish households face an 1,159 euro price hike.

"Irish Grocery Market Share for February 2023 showed that Irish grocery price inflation soared to a new record 16.3 percent.Sales of premium own-label lines reached 152.6m euros, up 5.7m euros from last year," said a Kantar spokesperson.

It was further noted that online sales remained strong during January, up 5.6 percent year-on-year. Additionally, in-person grocery sales increased 5 percent in the four weeks to 23 January 2023.

Overall during the 12-week period to 23 January, 2023, in-person grocery sales increased by 6.8 person, with shoppers paying an additional 211.8m euros.

"Grocery price inflation of 16.3 percent is the highest level seen since Kantar started tracking grocery inflation.With consumers keeping a close eye on their purse strings after indulging during the festive period, it’s no surprise that shoppers continued to trade down to supermarkets’ own label products this period, with sales rising 10.4 percent, well ahead of a 4.7 percent increase in branded lines," noted senior retail analyst Emer Healy, according to Reuters.