At the time of EU accession on 1 May, it was claimed there would be a veritable bonanza for one and all with the removal of levies and the increased availability of mainly food products from EU countries.

However the NSO statistics for the Retail Price Index in May show the Index down by only 0.18 per cent over April. Food items prices were down by 1.28 per cent with price drops being registered in biscuits, pasta, fresh fish, potatoes and vegetables while fresh fruit prices were up. The beverages index, which includes the price of wine, was down by just 0.01 per cent. Inflation was registered at 1.95 per cent.

The NSO statistics for June, published last week by NSO, showed the Retail Price Index up by 0.48 per cent. Food items were down by 1.07 per cent in May with price decreases registered on biscuits, pasta, fresh fruit, potatoes and fresh vegetables but with increases registered in the frozen meat and frozen fish sections. The beverages index decreased by 0.21 per cent but inflation was up to 2.03 per cent.