The average price of a 2.5kg bag of potatoes jumped by 42 cent for consumers last month but in contrast they paid less for two litres of full fat milk, according to latest figures from the Central Statistics Office (CSO).
The Consumer Price Index for February 2024 shows that overall consumer prices rose by 1% in February but the biggest jump when it came to staple items was in the price paid by consumers for potatoes.
However this compared to a nine cent fall in the price of two litres of full fat milk and a four cent decrease in the price of a large sliced white pan and an 11 cent drop in the price of a pound of butter.
One of the biggest increase in the grocery basket for many consumers was the 22 cent increase in the average price of Irish cheddar cheese per kg which rose by 22 cents.
However spaghetti per 500g also increased by five cents while the average price of a take-home 50cl can of lager was up 10 cents at €2.35 on February 2023 prices and the take-home 50cl can of cider at €2.67 was also up 13 cents.
CSO
According to the CSO the Consumer Price Index (CPI) rose by 3.4% between February 2023 and February 2024 which was down from an annual increase of 4.1% in the 12 months to January 2024.
Anthony Dawson, statistician in the CSO prices division, said this is only the fourth time since September 2021 that the annual growth in the CPI was below 5%.
It is also the fourth consecutive month where the inflation rate was lower than 5%.
The latest figures highlight that In February 2024, the most significant monthly price changes were in clothing and footwear – which increased by 3.4% and transport which was also up 3%.