Good news at last as food price gap narrows
As we report in today's paper, the price gap between a basket of 33 food items purchased in Ireland and the UK has narrowed from 22pc in 2007 to just 3pc.
While Irish food prices have now fallen back to 2005 levels, UK food prices have risen by almost 40pc since then, as any recent visitor to Newry can testify.
For decades Irish consumers have rightly complained of the wide price gap between this country and the UK. This was due to many factors, but a lack of competition at retail level was undoubtedly the single biggest factor.