Falling production costs aren’t passed on

The price of a barrel of oil has dropped from over €100 to less than €50 in the past year.

In response, diesel and petrol prices have come down, but this price fall is not reflected in food, transport or production costs.

For example, it was far less expensive this year to harvest grain and potatoes, but bread has not allen in price and the cost of a bag of chips has doubled over the past year.