Food and drink prices in Ireland are among the highest in the EU, it has been reported, with the Irish products costing 20% more than the EU average.
As reported by the Irish Independent, statistics from Eurostat show that Ireland is the fourth most expensive country for food and soft drinks.
This is despite Ireland's reputation for being an agricultural nation with a massive output.
Above The Curve
According to Eurostat, the average basket of goods in a shop is 120% higher in Ireland than the EU average.
Alcohol and tobacco prices are the second highest in the EU, reflecting heavy excise duty, while milk, cheese and eggs (21%), bread and cereals (19%), as well as meat products (5%) are all over the EU average.
Many analysts have had their say on the issue, with some believing that Irish consumers have simply been conditioned to pay more.
Economist with KBC Bank Austin Hughes reflected on the surprising fact that food is much cheaper in Germany and the UK than in Ireland, seeing as their retailers have such a presence here.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.