"I now do my main grocery shopping at Lidl as the quality of the fruit and veg is better" (stock image)The pace of inflation in Ireland fell to 4.8pc in the 12 months to June 2023 and was up just 0.8pc in the last month. Inflation, measured using the EU Harmonised Index of Consumer Prices (HICP) for Ireland slackened off in the month despite some pick up in energy prices thanks to a sharp slow down in the pace of food price increases. Food prices increased by just 0.2oc in the last month compared to a hike of 10.1pc in the last 12 months. June saw some evidence of competition in the grocery sector putting downward pressure on prices, with Tesco reducing prices by an average of 10pc across more than 700 products from the start of June and rival supermarkets following. Eurostat will publish flash estimates from the EU HICP for the Eurozone for June 2023 on 30 June 2023The June numbers compared to HICP inflation of 5.4pc in Ireland in the 12 months to May 2023 and an annual increase of 6.1pc in the HICP for the Eurozone in the same period.

Source: Irish Independent June 29, 2023 11:02 UTC