Monday 26 September 2016

Everyday retail items continue their price rise

Published 22/08/2016 | 02:30

The amount Irish people spend on everyday grocery items, such as food, drinks and toiletries, has jumped year-on-year for the fifth consecutive quarter. Stock Image
The amount Irish people spend on everyday grocery items, such as food, drinks and toiletries, has jumped year-on-year for the fifth consecutive quarter. Stock Image

The amount Irish people spend on everyday grocery items, such as food, drinks and toiletries, has jumped year-on-year for the fifth consecutive quarter, according to industry data.

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Nielsen retail performance data showed that in the three months to June, so-called fast-moving goods, which include milk and packaged goods, rose 1.3pc year-on-year, while the average prices paid for those goods also rose 1.3pc.

Ireland is now the fifth strongest performer in Europe, according to the data.

During the same period, the data shows that grocery retailers saw a 2.6pc rise in takings at the tills - the fourth highest figure since Nielsen started the gauge around eight years ago.

Matt Clark, managing director of Nielsen Ireland, said the recent upturn in fast-moving goods sales in Ireland continues, in terms of both volumes purchased and prices paid.

"This is being driven by positive consumer confidence which is good news for retailers, who are witnessing some of the best growth numbers in Europe today," he claimed.

Across the 21 European countries examined, Turkey had the highest growth in takings at the tills (+8.9pc), while Greece had the biggest decline (-7.2pc).

Of the big five western European markets, Spain (+2.1pc) had the highest growth.

Separate data by Kantar last month showed that Britain's decision to quit the European Union has not had an immediate impact on grocery prices or the volume of goods sold in Britain.

But Nielsen said the value of UK grocers' sales fell 2.4pc year-on-year over the four weeks to July 16 - the worst figure since the four weeks ending July 19, 2014.

But it blamed the decline on wet and cool weather.

Irish Independent

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