Grocery prices ‘should be falling faster’

Prices in Irish supermarkets should be falling faster than they are as the huge Brexit surge in the value of the euro against sterling ought to be weighing on the grocery foodstuffs imported from Britain, according to leading economist Alan McQuaid.

“One thing you can conclude is that retailers are trying to boost margins after a very difficult period,” said Mr McQuaid.

The comments by the Merrion Capital chief economist come as the Kantar Worldpanel poll of Irish supermarkets shows that, as the first anniversary of the Brexit vote looms, grocery prices have barely fallen at all.