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Shoppers 'really feeling it in their wallets' as grocery price inflation nears 5%

Grocery prices are rising twice as fast as inflation.

SHOPPERS IN IRELAND paid an average of 22.3 visits to grocery shops in May as grocery prices have continued to climb. 

Grocery price inflation is just slightly short of 5%, compared with the same 12-week period last year, data from Kantar has shown. This is double the rate of inflation.

Business Development Director at Kantar Emer Healy said that rising prices are influencing sales performance and consumer behaviour.

“Although households have been adjusting their spending for some time now, what we’re seeing is a clear ‘tipping point’ when inflation goes above 3% to 4%. This is when shoppers really start to feel it in their wallets, and they change their behaviour.”

Yesterday, The Journal reported on our readers’ stories on how food prices increases have affected them.

In the five years to last month, prices for an average basket of food and non-alcoholic drinks increased by 23.4%, data from the Central Statistics Office shows.

Warm weather is also said to have influenced consumers’ shopping habits in May: an additional €14m was spent on what Kantar described as “typical summer fare”, such as coleslaw, potato salad, and non-alcoholic drinks.

An additional €50,000 was spent on sun-care compared with this time last year.

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