Consumer prices for a sirloin steak have increased by 50c/kg within one year to €16.83 in January 2024, according to the latest figures from the Central Statistics Office (CSO).
National average prices of several staple food items are now higher than last year. The price of 500g of spaghetti is now 12c higher, and 2.5kg of potatoes now cost 38c more.
Meanwhile, average prices for an 800g white sliced pan fell by 3c in the year to January 2024, while the price of 2L full fat milk and butter dropped by 8c and 7c/lb respectively.
The price of Irish cheddar per kg remained at €10.47. Consumers, however, paid 23c more for a 2kg pack of white self-rising flour at €2.64, and 5c more for large eggs per half dozen at €2.22.
The national average price of pork loin chops per kg rose by 57c to €8.90, while the price of pork sausages and ham fillet rose increased by 9c to €7.04 and by 31c to €6.74 respectively.
The Consumer Price Index (CPI) by the CSO for food recorded an increase over the last year due to higher prices for foods including vegetables, sugar, jam, honey, bread, cereals, and meat.
Consumer prices
The CPI measures the overall change in the prices of goods and services that people typically buy. The basket of goods and services is reviewed and updated regularly.
Figures published today (Thursday, February 15), show that prices for consumer goods and services in January 2024 rose by 4.1% on average when compared with January 2023.
This is only the third time since September 2021 that the annual growth in the CPI was below 5%, while also being the third consecutive month where the inflation rate was lower than 5%.
The most significant growth in the 12 months to January 2024 were seen in recreation and culture at 9.3% and restaurants and hotels at 7.2%, according to the CSO.
The basket of products on which the index is based now contains 612 items. Swiss Rolls were removed last year, while milk and meat substitutes and rib-eye steaks were added.