Food price surge putting pressure on family budgets
The cost of food is now rising at more than twice the level of general inflation, according to consumer price index figures for May from the Central Statistics Office (CSO).
General consumer inflation was 1.7pc in the year to May.
But food prices rose by 4.1pc in the year.
Staples such as butter, beef, bread, cheese and spaghetti prices are all up in the supermarkets, the CSO figures show.
The price of a pound of butter shot up by €1.03 in the 12 months to May.
CSO statisticians recorded the cost of a pound of butter at €4.72.
The cost of two litres of full-fat milk is up 27c in the year to €2.46.
Consumers are being forced to pay an extra 57c per kg of Irish cheddar, with an 800g loaf of white/brown sliced pan 5c dearer.
Spaghetti per 500g is 2c more expensive than last year.
There was a reduction in the price of a 2.5kg bag of potatoes of 25c when compared with May 2024.
The surge in food prices is despite the fact that overall consumer prices remained unchanged in the month between April and May this year.
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Anthony Dawson, Statistician in the CSO prices division, Anthony Dawson, said: 'Today's release of the CPI [consumer price index] shows that prices for consumer goods and services in May 2025 rose by 1.7pc on average when compared with May 2024.
The rate of inflation may have eased a bit in the past few months from as high as 9pc, but consumers are still paying elevated prices for goods and services after two years of rapid cost increases. This is especially the case with energy and groceries.
This country had the sharpest rise in agricultural output prices in Europe between the first three months on last year and the same period this year.
Agricultural output prices were up 19pc in the period, according to Eurostat.
Agricultural output is the value of final goods and services produced by farmers.
Farm gate price rises is one of the reasons Agriculture Minister Martin Heydon warned this week that the recent surge in food prices is unlikely to be reversed.
He said it reflects farmers' input costs, Agriculture Minister Martin Heydon has warned.
Irish consumers have seen food prices rise more than 4pc in the past year, Central Statistics Office data showed in May. That's around three times faster than general consumer inflation.
UCC economist Oliver Browne has calculated that grocery prices have increased by 36pc in the last four years.
The inflation figures show motor insurance premiums up by 8.4pc in the year to May.
This is the 21th month of rising motor insurance costs.
Home insurance was up again, rising by 5.1pc.
Health insurance costs are up by 8.7pc, the CSO said.
Regulator for the sector, the Health Insurance Authority, said the average health insurance premium is now approaching €2,000, up more than €480 in the past two years.
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