Irish Grocery Inflation Hits Highest Level Since 2008

By: Gáspár Kinga Date: 2022. 07. 25. 10:02

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Grocery inflation reached 7.7% in the 12 weeks to 10 July 2022, recording its highest level since August 2008, according to the latest data from Kantar. Consumer spending on take-home grocery sales in Ireland fell by 3.1% in this period, slowing by 0.9% in the latest four weeks.

With a 22% market share, Tesco emerged as Ireland’s top retailer

Inflation remained a key challenge for retailers, manufacturers and brands, while consumers opted for cheaper products to combat the impact of inflation.

However, the average price paid for each item increased by 6.3%, Kantar noted.

Emer Healy, senior retail analyst with Kantar, commented, “We are seeing rising costs on many fronts, and shoppers’ weekly grocery bill is no exception to the rule. Food and drink prices are continuing to climb, and the impact of this on shopping budgets is now unavoidable for many consumers.”

Top Retailers

With a 22% market share, Tesco emerged as Ireland’s top retailer, ahead of Dunnes Stores by a narrow margin of 0.1 percentage points.

Tesco added four million additional shoppers in the latest 12-week period.

Dunnes Stores, with a market share of 21.9%, saw growth of 1.5% driven by new shoppers contributing an additional €23.2 million to its overall sales performance.

SuperValu, with a 21.5% share, continued to see shoppers returning to its stores more often than any other retailer.

Lidl, holding 13.5% of the market, also welcomed new shoppers to its stores which contributed an additional €13.6 million to its overall performance, Kantar added.

Aldi’s market share stood at 12.6%, driven by a 1% increase in new shoppers and more return trips from existing shoppers, Kantar noted.

European Supermarket Magazine