We are hearing more and more talk of price gouging – or ‘greedflation’ – as a driver of rising prices since the Covid-19 pandemic. What does the latest data say?
From its mid-summer peak last year, headline inflation has been slowing through the first four months of 2023. But, prices are still high and rising faster than any of us can be comfortable with. At more than 13%, the rate of increase in prices consumers pay for basic foodstuffs is nearly double the headline rate. Even before the latest surge, Ireland already had the third highest food prices in the EU.
*** This article was first published at thejournal.ie on 7 June 2023 ***
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