| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM


Irish consumers spent €2.6 billion more on alcohol and cigarettes than food in 2007; Household spending on alcohol more than 3 times EU27 average
By Finfacts Team
Aug 26, 2008 - 4:33:51 AM

Email this article
 Printer friendly page

Economist Jim Power and Agri Aware Chairman Mairead Lavery

Irish consumers spent €2.6 billion more on alcohol and cigarettes than food in 2007. Agri Aware, the farming and food educational body, has also revealed that for every €1 spent on food, consumers are spending €0.73 more on alcohol, tobacco and mobile phones.

Last June, the European Commission reported that Ireland topped the European Union with spending on alcohol at 4.1% of total household expenditure compared with EU27 average of 1.2%.

The ‘Food Prices: Where’s Your Cents?!’ campaign launched by
Agri Aware, aims to rationalise growing consumer concerns over so-called ‘excessive’ food prices and encourage consumers to asses their personal expenditure on non-essential items.

Economist, Jim Power, stated “Everyday we hear criticism about food prices, yet we’re spending more on booze alone every year. Fundamentally, there is something very wrong about this.”

The campaign discloses that many food items would be 25% more expensive had prices tracked annual inflation. In addition, when compared to other essential services, food prices have run 30% below inflation since 2000; Heating bills have increased by 87% and Water Supply and Refuse prices by 258%.

The economist also highlighted, “Nobody is denying that food prices are rising, but when compared to other everyday costs the Irish public are still getting value for money. I believe that the decline in the economy will encourage consumers to reassess their shopping habits and realise it’s more a case of excessive spending than excessive prices!”

Agri Aware Chairman, Mairead Lavery commented

“I think it’s fair to say the price of our staple food items is still low. Because of the Celtic Tiger, many Irish consumers took low food prices for granted. Consumers are still getting a fair deal when you consider that for the price of a ready made sandwich you can buy three slice pans.”

Irish among World's Top Boozers: World/Global Alcohol/Drink Consumption 2008

 

Irish Alcohol Consumption surged 17% since 1995; Alcohol-related hospital discharges jump 90%

Related Articles
Related Articles


© Copyright 2009 by Finfacts.com

Top of Page

Irish
Latest Headlines
Ryanair revises up full-year profit guidance
AIB bank profitable in third quarter
Ryanair announces half-year profits up 32% to €795m
Ryanair benefits from improved customer service
Ryanair to buy 100 new Boeing 737 MAX 200
Finfacts server migration Thursday
State-owned Allied Irish Banks reports H1 2014 profit as bad loan charges plunge
Ryanair reports profit in its financial first quarter soared 152%
UK firm opens van dealership in Dublin
Ryanair reports 8% fall in full-year profit; US services to commence in 2019
Global Financial Centres Index: New York overtakes London; Dublin slips to 66 of 83 cities
Bank of Ireland reports “significant” improvement in 2013 results
Sale process of IBRC UK projects Rock and Salt completed
CRH says 2014 will be year of profit growth after reporting 2013 loss
Ryanair reports third-quarter loss
Irish Water says it saved €100m in setup costs
RSA Insurance fires two Irish executives for large loss/ accounting irregularities
Bank of Ireland will have to raise provisions by €1.4bn; AIB says it's "well capitalised"
CRH reports slightly improved third quarter
Central Bank says ownership of Newbridge Credit Union transferred to permanent tsb
Ryanair reports H1 profits rose by 1% to €602m
Dublin Web Summit: Irish Stock Exchange and NASDAQ OMX announce dual listing plan
Irish pension managed funds returned to growth during September
Dan O’Brien resigns as economics editor of The Irish Times
Central Bank says no action required on Anglo tapes revelations
Ryanair flew 9m passengers and Aer Lingus carried 1.1m in August
UK Competition Commission says Ryanair must cut Aer Lingus stake to 5%
CRH reports H1 2013 revenue dip and loss
Vodafone refunded UK after discovery of Irish tax haven deal
RBS reports half year profit; Ulster Bank posts reduced loss
Bank of Ireland cuts pretax losses in HI 2013 to €504m
Irish State-owned Allied Irish Banks reports losses of €758m in H1 2013
Service Announcement
Irish managed pension funds declined in June
VHI reports 2012 surplus of €54.3m; Health insurance made loss
Ex- Elan director says management / board "not competent to run a business"
Aer Lingus to put €140m in employees pensions fund; Ryanair apoplectic
Wednesday Newspaper Review - Irish Business News and International Stories - - May 22, 2013
Tuesday Newspaper Review - Irish Business News and International Stories - - May 21, 2013
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m - - up 13%