Kenneth Fox
Prices rose by 1.4 per cent during 2024, according to figures from the Central Statistics Office (CSO).
The figures show that inflation, the rate at which prices are rising, ticked up slightly since November last year when the annual rate was at 1 per cent.
The rise in the price of food and drink saw restaurant and hotel prices go up by 3.7 per cent over the year.
Excluding energy and unprocessed food, the consumer price index grew by 2.1 per cent in the 12 months to December 2024.
The second highest increase was in recreation and culture which rose by 3.3 per cent.
The only divisions to record a decline when compared with December 2023 were clothing & footwear (-8 per cent) and furnishings, household equipment & routine household maintenance (-1.3 per cent).
The divisions with the largest growth in the month were transport (+4.1 per cent) and recreation & culture (+3.0 per cent).
The only divisions to record a decline in the month were alcoholic beverages & tobacco (-0.9 per cent) and communications (-0.2 per cent).
Consumer prices rose by 1.4% over the 12 months to December 2024https://t.co/peNf49NXh5#CSOIreland #Ireland #CPI #ConsumerPrices #Inflation #Deflation #Prices #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/8v0kFZXfML
— Central Statistics Office Ireland (@CSOIreland) January 16, 2025
Commenting on annual changes shown in the release, Anthony Dawson, CSO statistician in the prices division, said: “The release of the CPI shows that prices for consumer goods and services in December 2024 rose by 1.4 per cent on average when compared with December 2023."
The National Average Prices for selected goods and services for December 2024 were also published.
Anthony Dawson said: “There were price increases in December 2024 for a pound of butter (+60c), two litres of full fat milk (+18c), a 2.5kg bag of potatoes (+16c), Irish cheddar per kg (+14c), and spaghetti per 500g (+3c).
"There were decreases in the price of an 800g loaf of white sliced pan (-1c), and an 800g loaf of brown sliced pan (-1c) when compared with December 2023.”
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