Prices rising at fastest rate in 22 years with basic food costs soaring

Statistician Colin Cotter said: 'Looking at some staple items, the national average price for bread (large (800g) white sliced pan) was up 13.6 cent in the year to February 2022, while the same size brown sliced pan is up 20.6 cent in the year. Fresh fillet of cod per kg increased by 23.3 cent in the year, while the average price for 2.5kg of potatoes decreased by 18.2 cent.' 

Prices are increasing at their fastest rate in almost 22 years, with the price of some staples such as bread up more than 20 cent in the past year.

The Central Statistics Office on Thursday published its consumer price index for March 2022, showing prices across the board rose 6.7% in the past 12 months. The last time it was this high was the 7% recorded in November 2000.