Rising food prices push the cost of Christmas dinner to over €10 per person

Food inflation in Ireland has hit a record 14.7 percent, even higher than in the UK, the latest data from information provider Kantar shows.

Over the course of a year, the average grocery bill will rise from €7,037 to €8,071, meaning consumers will face an unusually expensive holiday shopping season on top of higher electricity and heating bills.

The cost of a traditional Christmas dinner for four people is €41.58, including a glass of wine. That’s up 7.9 percent and shows the extent to which rising prices are affecting consumers.

Emer Healy, senior retail analyst at Kantar, said the higher prices aren’t leading to lower demand.

“Despite inflationary and other drags, Irish shoppers are still stocking up on festive treats this year. In the last 12 weeks, they spent an additional €1.2 million on gifts and boxes of chocolates, €3.5 million more on savory snacks and €617,000 on mince pies.”

Despite this, consumers are showing signs of budget awareness: sales of cheaper own-brand products have increased by 9.6 percent in supermarkets over the past 12 weeks.

The combination of rising inflation and festive spending means December will be a record month, with grocery sales hitting €1.25 billion for the first time, while Friday 23 December will be the busiest day for pre-Christmas shopping.

In terms of Irish retailer performance, Dunnes Stores has the highest share among all retailers at 23.3 per cent, ahead of Tesco at 22.2 per cent and SuperValu at 20.9 per cent.

The combined market share of Lidl and Aldi is around 25 percent of the market.

https://www.independent.ie/business/personal-finance/rising-food-prices-send-cost-of-christmas-dinner-to-more-than-10-a-head-42213466.html Rising food prices push the cost of Christmas dinner to over €10 per person

Fry Electronics Team

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