Grocery inflation rises to almost 5%
Summary
Irish Examiner columnist Katrina Redmond and UCC Professor Thea Hennessy analyze the recent 4.69% rise in grocery inflation, attributing it to elevated energy costs, wages, and extreme weather impacts on supply chains. They note that while prices may stabilize before Christmas due to locked-in contracts, consumers face continued pressure from reduced discretionary income and rising heating costs.
Topics discussed
Introduction to rising grocery inflation
Comparing CSO CPI vs World Panel data
Impact of price hikes on household budgets
Changes in consumer shopping habits
Outlook for prices leading up to Christmas
Drivers of food inflation: energy and weather
Specific products affected by global events
Good news: declining butcher and coffee prices
Costs in the food service trade
Short-term price outlook and supply chain lag
Confirmation of price stability until Christmas
Long-term risks: El Niño and global factors
Clarification on El Niño in price forecasts
Closing remarks and guest thanks
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