No evidence of price gouging in supermarkets - watchdog

James Cox

The consumer watchdog has said there is no evidence of price gouging in the grocery sector.

The Competition and Consumer Protection Commission said it conducted fresh analysis of food prices due to widespread commentary on the cost of living.

However, it found the price increases are generally below the European average, and it sees no evidence for an in-depth study of the grocery sector.

“Food price increases have generally remained below the European average, which coincides with increasing competition in Ireland,” it said.

"The data available on profit margins does not indicate that margins are notably high when compared to international comparators."

Social Democrats TD Jennifer Whitmore said the report is worrying.

Ms Whitmore told Newstalk: "If you go to anyone who is going to the supermarket or buying anything at the moment, they know how expensive things are and how difficult it is to keep the household budget.

"There is clearly a problem here. The fact that the consumer commission hasn't been able to identify exactly what that problem is, or indeed make any recommendations in order to address it, I think that is concerning."

“Not all of the large supermarket chains publish their Irish profits,” she added.

“It is wholly unsatisfactory for the consumer regulator to be denied information that is necessary for it to do its job — and it is outrageous that the Government has not acted to force large supermarket chains to publish their profits.”