Mr. Brian McHugh:

We provided some figures in our recent analysis on grocery stores. We did not see a big difference between the supermarket profits in Ireland and other countries. The one thing, which we highlighted in our analysis, is that the entry of the discounters into the supermarket market in Ireland has had a huge, positive impact.

In the figure we set out in our analysis, food inflation in Europe since 2008, on average, stands at 59%. That is a lot of years. In Ireland, however, it is 1%. That is what the rate of food inflation has been. That is what happens when there are new entries into the market with new ideas and competition. It also says a lot about what competition was like before then.