The CCPC yesterday published an update to its 2023 high-level analysis of the grocery sector in Ireland.

The latest analysis confirms that, while food prices have increased significantly in recent years in Ireland, there is no evidence that competition is not working in the Irish grocery retail sector.

The report shows the increased competition in the market over the last 20 years has brought sizeable benefits for consumers. Food price increases have generally remained below the European average, which coincides with increasing competition in Ireland.

The data available on profit margins does not indicate that margins are notably high when compared to international comparators.

The updated analysis also highlights that, while grocery prices have increased significantly since 2021, they have done so at a slower pace than some of the key input costs such as agricultural prices. This suggests that competition in the grocery market has helped limit the impact of increased agricultural prices on Irish consumers.  

In a statement, the CCPC said: “The role of the CCPC is to ensure that markets in Ireland remain fair and competitive and that retailers are following consumer protection law.

“While the CCPC has not seen evidence to justify an in-depth study of the grocery retail sector, it remains a key market for the CCPC, which we will continue to monitor.”