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Meat is still great value, well below food inflation
EU figures published recently show that the price of milk, cheese and eggs has risen by more than 22% in the past 12 months, while the cost of bread and cereals has increased by almost 12%.
In this same period meat has risen by only 5.7% just about keeping place with inflation.
Those three food classes account for 60% of the average household food budget and it is estimated that rising food prices are adding 0.7% to Ireland's overall inflation.
The figures compiled by the EU Statistical Office, Eurostat, show that price increases in the cost of food in Ireland have been mirrored across the EU
though only new EU members states from eastern Europe, such as Bulgaria, Latvia and Lithuania, are experiencing higher food inflation levels worse than Ireland.
The EU figures show that annual food price inflation in the republic is running at 8.4%, compared with the general inflation rate of 3.3%. Ireland's food price inflation rate is the ninth highest of the 27 EU member states.
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