Annual inflation rises to 1% in November
3 In The The Sector Rises 8% Hotels A With The The Past Largest Sectors Hospitality Saw Restaurants & Jump In Prices Year Recording
Annual inflation rose to 1% in the 12 months to November, up slightly from the 0.7% annual figure recorded for October.
According to the Central Statistics Office (CSO), the hospitality sectors saw the largest rises in prices in the past year with the restaurants & hotels sector recording a 3.8% jump and alcoholic beverages & tobacco rising 3.5%.
The largest decreases in prices were recorded in Clothing & Footwear which saw a 7.5% drop and transport, down 1.6%.
Anthony Dawson, Statistician in the CSO's Prices Division, said that on a monthly basis, consumer prices fell by 0.8%. "The most significant monthly price changes were in recreation & culture (-2.6%) and alcoholic beverages & tobacco (-1.2%). Recreation & culture fell mainly due to lower prices for package holidays.
"Clothing & footwear (+0.4%) and food & non-alcoholic beverages (+0.2%) were the divisions to show the largest growth when compared with October 2024."
The National Average Prices for selected goods and services for November reported annual price increases for certain goods. "There were price increases in November 2024 for a pound of butter (+58c), Irish cheddar cheese per kg (+23c), a 2.5kg bag of potatoes (+18c), two litres of full-fat milk (+13c), and spaghetti per 500g (+1c)," Mr Dawson said.
"There were decreases in the price of an 800g loaf of white sliced pan (-3c), and an 800g loaf of brown sliced pan (-1c) when compared with November 2023.”