Food prices in Ireland remain high in international context – CCPC
An analysis of the retail grocery market by the Competition and Consumer Protection Commission (CCPC) has found food prices in Ireland remain high in an international context – but over recent years food inflation here was the lowest in the EU.
The analysis carried out by the CCPC, on request from the Minister for Enterprise, Trade and Employment, Simon Coveney, also found competition in the sector has improved.
As grocery price inflation became a problem for more and more consumers, the Government sought explanations from the retail sector and an analysis of the grocery market by the CCPC.
That analysis is now complete and in its report the CCPC found healthy competition in the grocery market here has brought benefits to consumers and provided them with more choices.
The report found, however, that prices remain high in an international context but over recent years food inflation in Ireland was the lowest in the EU.
It also states that where input cost inflation or deflation occurs, that is not immediately passed on to consumers as there is a lag affect.
The CCPC also said it had not seen evidence of excessive pricing in the grocery sector due to the abuse of dominance within it.
But it added that it recognises recent price increases have caused distress to people and it will continue to monitor the sector.
The report comes just ahead of the next meeting of the Retail Forum tomorrow in the Department of Enterprise at 11am.