Price of Bread Set to Soar Ami...

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Price of Bread Set to Soar Amid Ukraine Crisis


02:18 10 Mar 2022

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Irish bakers have warned of unprecedented price levels due to the rising cost of wheat and energy.

Derek Ryan of McCloskey's Bakery in Drogheda said they've experienced a 50% increase in their flour costs over the last year.

He fears they'll be paying a further 80% more in the near future, warning that businesses and customer pockets will both suffer.

Russia's invasion of Ukraine and the international sanctions which followed have disrupted Irish imports, leading to price spikes.

However, officials have said supply will remain steady as Ireland doesn't import flour from Ukraine.

Inflation across the board

Bread isn't the only commodity seeing drastic price rises - petrol and diesel have seen record-high spikes over the last few weeks.

Overnight, a reduction in the excise on fuel came into place, lowering the cost of diesel and petrol by 15c and 20c a litre respectively.

This morning, Wexford TD Verona Murphy said petrol and diesel prices could go as high as €3.50 within weeks.

The Government are urging the public not to partake in panic buying if shortages of any commodity do occur.

Further inflation is predicted  - there was no progress on establishing a ceasefire today, as Russian and Ukrainian officials met for talks in Turkey.




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