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Food Prices Soar as Fuel Costs Skyrocket

Published 6 days, 3 hours ago
Description

Food prices may surge by up to ten percent due to the Middle East conflict, causing a rise in green diesel and fertilizer costs. Farmers like James Drea in Kilkenny are feeling the impact, with fertilizer prices soaring over a third and diesel costs set to increase. Economists attribute the biggest driver for food price hikes to fertilizer shortages, which could lead to eight to ten percent grocery inflation, adding fifty to sixty euros monthly to average household bills. The Irish Farmers Association is urging the government to suspend the carbon tax on green diesel, while calls for EU-level help on carbon border taxes grow to stabilize farm inputs and control food prices.

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