Willie Penrose
Question:51 Deputy Willie Penrose asked the Minister for Agriculture, Fisheries and Food the steps he is taking to combat food price inflation; and if he will make a statement on the matter. [12031/10]
View answerThursday, 11 March 2010
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Changes in food prices are primarily a function of market forces operating at international, EU and national levels. The food price index as measured by the CSO is currently at a level similar to that which existed prior to the significant increases in food prices evidenced throughout late 2007 and into much of 2008. Numerous factors on both the demand and supply side of the global world food equation, as well as some local factors served to contribute to these increases. Many of these factors have been offset by the global recession and falling commodity prices.
The most recent annual data available from the Central Statistics Office relates to 2009 when food and non-alcoholic beverages prices, as measured by the food price index, decreased by 3.4% on average for that year. The overall annual rate of deflation, as measured by the Consumer Price Index was -4.5% during the same year. More recent monthly data, for January 2010, indicates that food and non-alcoholic beverage prices decreased by 8.2% when compared to January 2009.