A high-end meat cut, such as striploin steak, is now more than \u20ac5 dearer per kilogram than last year.<\/p>\n
Some meat prices are up by 26pc in the last year.<\/p>\n
This is forcing families to buy cheaper cuts of meat and to opt for discounted products.<\/p>\n
New inflation figures from the Central Statistics Office (CSO) show food prices rose by 5.1pc in the year to August.<\/p>\n
This is the highest rate of inflation for food and non-alcohol beverages since December 2023.<\/p>\n
It was one of the main factors pushing up overall inflation back to 2pc in the year to August.<\/p>\n
This is up from 1.8pc in July, the CSO said.<\/p>\n
Household staples were big movers upwards in price.<\/p>\n
CSO statisticians recorded rises in the prices of cheese, butter, milk and bread.<\/p>\n
There was a decrease in the price of a 2.5kg bag of potatoes \u2013 falling by 35c \u2013 when compared with August 2024.<\/p>\n
The cost of sirloin steak is up almost \u20ac5 per kg. CSO research found that the price per kg is now \u20ac21.95, a rise of \u20ac4.70 from August last year. This is a 26pc rise.<\/p>\n
Striploin steak is now almost \u20ac29 per kg, a rise of \u20ac5.46, or 23pc.<\/p>\n
Topside or rib of roast beef per kg is up \u20ac3 in a year to \u20ac15.64. This is a rise of 24pc in a year.<\/p>\n
A whole leg of lamb per kg is \u20ac3 dearer on last year. It is now \u20ac17.70, a rise of 17pc.<\/p>\n
A fresh fillet of cod, per kg, is up more than \u20ac4.5 in the past year to \u20ac25.26.<\/p>\n
Two-litres of full-fat milk is now 28c dearer than a year ago at \u20ac2.47.<\/p>\n
A pound of butter is now \u20ac4.85, a rise of 91c on the year. The CSO includes both branded butter, such as Kerrygold, and the own brands sold by supermarket chains in this calculation.<\/p>\n
The cost of Irish cheddar cheese, per kg, is up 93c to \u20ac11.43.<\/p>\n
Motor insurance costs are up by close to 6pc in the year. This means the cost of motor cover has risen now for 24 months in a row.<\/p>\n
Health insurance is almost 8pc dearer than last year after premium hikes from VHI Healthcare, Laya Healthcare and Irish Life Health.<\/p>\n
And economists have warned that shoppers can expect to pay even more for a basket of food because the prices paid to farmers are rising fast.<\/p>\n
Agricultural output prices, which are seen as a proxy for food prices, jumped by almost 19pc in the 12 months to June, according to separate CSO figures.<\/p>\n
Independent economist Austin Hughes said food price would continue to increase for a while yet because the farmgate prices are rising so fast.<\/p>\n
The ongoing surge in the cost of groceries is prompting consumers to buy cheaper meat cuts and forcing people to reduce their savings to meet the rise in prices, according to a recent survey conducted by iReach Insights on behalf of Aviva that polled 1,000 people nationwide.<\/p>\n
The increased cost of the weekly shop is the most common financial impact experienced by a majority of consumers as they struggle to deal with the cost-of-living crisis.<\/p>\n
Other adjustments being made to lifestyles include eating out less and buying more own-brand products, the iReach Insights research found.<\/p>\n","protected":false},"excerpt":{"rendered":"A high-end meat cut, such as striploin steak, is now more than \u20ac5 dearer per kilogram than last…\n","protected":false},"author":2,"featured_media":58564,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[79,2107,18,19,17,2108],"class_list":{"0":"post-58563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-charlie-weston","10":"tag-eire","11":"tag-ie","12":"tag-ireland","13":"tag-money-experts"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/58563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=58563"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/58563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/58564"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=58563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=58563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=58563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}