The big news in the sector in January 2022 was the introduction of minimum unit pricing for alcohol, which came into effect in the Republic on the 4th of the month. The new pricing rules, which were aimed at reducing problem drinking, forced supermarkets to quit using their traditional cheap booze offers to tempt customers.
The big retailers were able to pocket the extra margin created by MUP, which was essentially a once in a lifetime industrywide price rise that immediately inflated bottom lines. There was little pay-off for the State in the form of extra taxes. The breakout of war in Europe the following month squeezed commodity markets and sent energy bills soaring, which was quickly reflected in higher prices on the shelves for processed foods made with energy-intensive production methods.
Seriously, the price of petrol and diesel fell by approx 30 per cent in the last few months. I was expecting a reduction from the already higher than EU average prices!
IrishTimes We noticed, who can charge the most and get away with it.