Consumers paid on average 34 cents more for a pound of butter last month than they would have done a year ago, according to new figures released today.

Not only has the price of butter gone up but the average price of full fat milk (per two litres) was also up six cents in the 12 months to January 2026 .

According to latest research from the Central Statistics Office (CSO) the average price of Irish cheddar per kg also increased by 45 cents between January 2025 and January 2026.

Anthony Dawson, statistician in the CSO Prices Division, said there were also price increases in the 12 months to January 2026 for sirloin steak per kg which soared by €4.68.

Consumers

But in contrast according to Dawson there were decreases in the price of a 2.5kg bag of potatoes - which fell by 22 cent and an 800g loaf of brown sliced pan, down just one cent, when compared with January 2025.”

According to the latest Consumer Price Index (CPI) from the CSO prices for consumer goods and services in January 2026 rose by 2.7% on average when compared with January 2025.

Excluding energy and unprocessed Food, the CPI grew by 2.8% in the 12 months to January 2026.

The biggest increases over the period were seen in education services - which increased by 8.9% and clothing and footwear, which rose by 7.3%.

According to the CSO the annual change in education services reflects a rise in costs associated with third-level education which came into effect from October 2025.

The only areas which saw a decline when compared with January 2025 were furnishings, household equipment and routine household maintenance - down by 0.6% and transport which fell marginally by 0.1%.