A new study by Caritas has found that families are spending at least €100 more per month on food. The study was done in February, right before the Russian invasion of Ukraine, which led to spikes in food and energy costs.
The study shows that basic food prices jumped by 20% between July 2020, when the study was last carried out, and February 2022.
The study unveiled today used the same basket of goods used in its 2020 study, which was titled; ‘A Minimum Essential Budget for a Decent Living.’ Back in 2020, a family of four, two adults and two children, would spend €600 monthly, or a €7100 yearly, to live decently.
In less than two years later, the same family would have to spend €700 per month, or €8,400 annually, for the same products. A family of one adult and two kids would spend €430 monthly in 2020, going up to €526 in 2022.
The increase in price was also noted for medicine and healthcare, as the prior family of four would have to spend €307 yearly on such items at the start of COVID-19. The same family today would spend €355 for the same items.
The main difference between the 2020 and 2022 studies was the inclusion of a COVID-19 protection package. The package includes a disposable mask per day per person, between 6 to 12 100ml bottles of sanitiser per year, and two extra boxes of paracetamol.
The additional stuffs cost a family of four over €830 annually, with a family of three having to spend €630 on the package, over and above the essential medicine and healthcare items.
Elderly folks were most impacted by this. In 2020, a basic basket of food would have cost an elderly couple €280 monthly, or €3,370 per year. In 2022, an elderly couple would have to spend €350 monthly, €4200 per year.
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