Baby Food Prices Soar calls for investigation into Market Practices
Labour Senator Rebecca Moynihan has today written to the Competition and Consumer Protection Commission (CCPC) calling for an investigation into the rising baby formula prices.
Senator Moynihan said
“The alarming 7% increase in the Consumer Price Index for baby food demands immediate attention. Parents are facing an unjust burden, and it’s our duty to intervene.
“The price of infant formula has not only risen over the last decade but has reached unprecedented heights post-Covid. This price-gouging is unacceptable, especially considering it far exceeds national average inflation rates.
“We need to act decisively, taking a number of steps to reduce the cost. Government could employ Sections 61 and 62 of the Consumer Protection Act 2007 which would allow us to set price caps, protecting new parents and children from being exploited.
“They should also allow general supermarket vouchers, like Dunnes vouchers, apply to infant formula. Treating infant formula the same as alcohol for the application of general vouchers stigmatises and helps no one.
“Baby formula must be treated as an essential good. By providing low-cost generic options directly to low-income parents, we can create a more equitable system, ensuring no one is left without access to essential nutrition for their infants.
“The situation in the UK, where the competition regulator is probing the baby formula market, mirrors our concerns. We cannot allow our market to be dominated, restricting options and leading to exorbitant prices for essential baby products.
“I’m calling on the CCPC to commence an investigation into the rising prices immediately. Investigating the market, preventing monopolisation, and implementing price caps for formula, and providing low cost generic formula are crucial steps toward building an Ireland that genuinely supports its children and parents.”