The pricing around alcohol and food make for particularly grim reading for consumers.
Newly released data from the European Commission has revealed that Ireland is now the most expensive country in the European Union.
Prices here currently sit 46% above the EU average, and have been steadily rising year on year. The top four was rounded out by the Scandinavian trio of Denmark (45%), Finland (27%) and Sweden (24%), as Irish prices rose 2% on 2021.
The pricing of alcohol was one of the most galling revelations for consumers, with prices in Ireland over double the EU average. Ranking second in the entire European Union, only Finland had higher prices.
Taxation has been labelled as the chief culprit behind Ireland’s alcohol pricing, with some of the highest rates of tax in the world endured by consumers here, along with the recently introduced minimum unit pricing.
Ireland also ranks alarmingly high with regards to utility pricing. Prices here are 38% above the EU average, leaving the nation as the second most expensive across the continent.
Fine Gael TD Neale Richmond has called on retailers to lower prices. (Credit: Rolling News)Food and non-alcoholic drink were 15% above the EU average, seeing Ireland rank fourth overall. Romania was the cheapest, with food coming in at 28% below the EU average.
If you’re looking for the cheapest place for a break in the sun, Bulgaria is the spot for you, with prices a staggering 50% lower than average.
Meanwhile, for those planning a staycation, Ireland ranked fourth most expensive for restaurants and hotels, with prices sitting at 29% above the EU average.
Communication costs rank as the third highest in the EU, whilst education costs are the ninth most expensive across the continent.
These figures will bring about renewed pressure on the coalition government ahead of the Dáil’s summer recess, and will be a concern following their recent improvement in electorate approval polls.
The news of Ireland’s exorbitant pricing also comes fresh off the back of Minister of State at the Department of Enterprise, Trade, and Employment Neale Richmond, calling for retailers to reduce prices amidst the worsening cost-of-living crisis.
Similarly, last month, Taoiseach Leo Varadkar accused some companies of profiteering from the crisis, stating that multinational companies were securing “significantly” bigger profit margins on products in Ireland than they would elsewhere.
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