The annual rate of inflation eased to 7.2 per cent in April from 7.7 per cent in March, according to the latest figures from the Central Statistics Office (CSO).
The Consumer Price Index (CPI), which measures the change in the average level of prices of consumer goods, rose by 7.2 per cent in the 12 months to April 2023.
This is the 19th straight month where the annual increase in the CPI has been at least 5.0 per cent.
There was a 20.7 per cent annual increase in the area of housing, water, electricity, gas and other fuels.
Consumer prices rose by 7.2% over the 12 months to April 2023https://t.co/M1C4qLIoLR#CSOIreland #Ireland #CPI #ConsumerPrices #Inflation #Deflation #Prices #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/LDH74E7kgf
Advertisement— Central Statistics Office Ireland (@CSOIreland) May 11, 2023
CSO statistician in the prices division Anthony Dawson said this reflects rising electricity (+51.3 per cent) and gas (+55.8 per cent) costs, along with higher mortgage interest repayments (+41.0 per cent).
Food and non-alcoholic beverages prices rose in the year by 13.1 per cent.
Mr Dawson said: “The annual change in food and non-alcoholic beverages costs reflects a rise in prices across a range of products such as sugar (+38.9 per cent), frozen fish (+29.9 per cent), fresh whole milk (+24.1 per cent), butter (+18.9 per cent) and eggs (+18.3 per cent) compared with April 2022.”
Education (-6.3 per cent) and transport (-2.3 per cent) were the only areas to show a decrease when compared with April 2022.
Consumer prices rose by 0.5 per cent in the month between March 2023 and April 2023.
The national average price for bread (large 800g white sliced pan) was up 23 cents in the year to April 2023, while the same size brown sliced pan was up 18 cents in the year.
Spaghetti per 500g increased by 27 cents in the year while the average price for 2.5kg of potatoes was up 11 cents.
Full fat milk per 2 litres increased by 44 cents in the year while the average price of Irish cheddar per kg rose by €1.42 and butter per lb rose by 66 cent.
The national average price of a take-home 500ml can of lager at €2.30 was up 14 cents on average from April 2022 while a take-home 500ml can of cider at €2.54 was up 18 cent.
In April 2023, the national average price of a pint of stout in licensed premises was €5.50, up 38 cents in the year, while a pint of lager was €5.97, up 47 cents compared with April 2022.
