Friday 28 October 2016

Consumer prices rise for fifth month in row - CSO

Sean Duffy

Published 14/07/2016 | 14:25

Shoppers on Grafton Street in Dublin. (Stock photo)
Shoppers on Grafton Street in Dublin. (Stock photo)

Consumer prices in Ireland rose for the fifth straight month, rising by 0.7pc in June compared to May.

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The latest figures released by the Central Statistics Office reveal that prices on a year to year basis were up 0.1 compared with June 2015.

The price of goods and services were up 5.9pc on an annual basis, educations costs went up 3.8pc, while prices in the hotel and restaurant sector rose by 2.9pc. Healthcare costs also rose by 2.0pc.

The cost of rental accommodation grew by 8.9pc across the country for the year and was up by 0.8pc from May. Car sales fell by 3pc.

Car insurance premiums recorded a dramatic 38pc rise compared to June of 2015.

Transport costs declined by 4pc since 2015, while the price of clothing and footwear fell by 2.9pc. Furnishing and household equipment figures dropped by 0.3pc, while the costs associated with third level education grew by 5.1pc to June.

Alcohol prices dropped by 2.8pc over a twelve month period but were up by 1pc on May’s figure. Receipts from tobacco sales were up 7.4pc.

Thomas Burke, Director of Retail Ireland said: “The figures are good news for Irish consumers. There have been significant falls over a long period of time in certain areas so there’s definitely value out there for Irish consumers.”

Despite this, Mr Burke also expressed a degree of caution: “One thing that is a little concerning is the rising costs for retailers. Margins are being squeezed all the time and this could have an impact on the sector in the longer term”



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