Ireland hit by hikes in food prices

DESPITE a 1% fall in general consumer prices last month, food and beverage costs actually increased, confirming Ireland’s unenviable tag as one of the most expensive countries in Europe for food and drink.

According to the latest figures from the Central Statistics Office (CSO), food and non-alcoholic beverage prices increased by 0.1% in June, following a 0.4% rise in May.

Bloxham Stockbrokers chief economist Alan McQuaid said the increases mark the end of an era of falling food costs. He suggested that due to the pick up in global commodity prices, the price of food was rising across the world – with some of the sharpest rises being seen in Ireland.