Consumer prices rise 0.7% in October led by alcohol and tobacco
Annual price hikes in Alcoholic Beverages & Tobacco (+4.9%) and Restaurants & Hotels (+3.7%) drive the 0.7% rise in consumer prices, according to the latest CSO report
Print8 November 2024
The Central Statistics Office (CSO) has today published the Consumer Price Index (CPI) October 2024.
Anthony Dawson, Statistician in the Prices Division, CSO, noted that today’s release of the CPI shows that prices for consumer goods and services in October 2024 rose by 0.7% on average when compared with October 2023.
Annual changes
The most significant increases in the 12 months to October 2024 were seen in Alcoholic Beverages & Tobacco (+4.9%) and Restaurants & Hotels (+3.7%).
The annual change in Alcoholic Beverages & Tobacco costs reflects higher prices for tobacco products.
Clothing & Footwear (-7.4%) and Transport (-2.2%) were the divisions to show the largest declines when compared with October 2023.
Monthly changes
Consumer prices in October 2024 rose by 0.3% in the month. During October 2023, prices also grew by 0.3% in the month.
In October 2024, the most significant monthly price changes were in Education (+2.6%) and Alcoholic Beverages & Tobacco (+2.3%). Education rose mainly due to extra costs associated with participating in third level education.
Transport (-0.7%) and Restaurants & Hotels (-0.6%) were the only divisions to show a decrease when compared with September 2024.
It should be noted that these figures relate to the CPI. The flash estimate published on 30 October 2024 related to the EU Harmonised Index of Consumer Prices (HICP).
National average prices
The National Average Prices for selected goods and services for October 2024 are also published today. The National Average Prices are compiled together with the CPI.
Commenting on the National Average Prices, Dawson said: “There were price increases in October 2024 for a pound of butter (+49c), a 2.5kg bag of potatoes (+31c), Irish cheddar cheese per kg (+9c), and two litres of full fat milk (+3c).
“There were decreases in the price of spaghetti per 500g (-4c), an 800g loaf of white sliced pan (-4c), and an 800g loaf of brown sliced pan (-2c) when compared with October 2023.”
The comprehensive list of items included in the National Average Prices and their monthly prices are available here.
Read more: Consumer prices in Ireland rise by 0.1% for October 2024 – CSO
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