According to the latest inflation data from the Central Statistics Office (CSO), food and drink prices have seen a sharp increase over the past year.
Since June 2024, food inflation has outpaced overall inflation in the economy, rising by 4.6% compared to a general increase of 1.8%.
The June Consumer Price Index reveals that the average price of a pound (454g) of butter has surged by 28%, increasing by €1.10 to €4.83 compared to the same time last year.
Other dairy items have also seen notable price hikes:
- Two litres of milk rose by 27c to €2.47
- A kilo of cheese increased by 95c to €11.34
Bread prices have climbed too, with an 800g white sliced pan loaf now costing €1.67 — up 6 cent.
Meat products have also become more expensive. A kilo of roast beef has risen by 20% to €15.20, while a kilogram of leg of lamb is now €17.70 — nearly 19% more than this time last year.
Beer prices have gone up as well. A pint of stout now averages €6.07, a 4.6% increase since June 2024.
On the other hand, some items have seen price drops. A 2.5kg bag of potatoes is now €3.81 — down 29c.
Overall, the prices of fruits and vegetables have remained relatively stable year-on-year.
Fuel prices have declined over the past 12 months. The average litre of diesel dropped from €1.71 to €1.65, and petrol fell by 9 cent to €1.69.