Retail Prices Index Increases in October

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THE Central Statistical Office (CSO) reveals a 0.4% in increase in items of the Index of Retail Prices in October when compared to September.

A release on Monday stated:

“The All Items Index of Retail Prices calculated from the prices collected for the month of October 2023 was 124.1, representing an increase of 0.5 points or 0.4% above the All Items Index for September 2023 as shown in the table attached.

“The Index for Food and Non-Alcoholic Beverages decreased from 148.2 in September 2023 to 147.2 in October 2023, reflecting a decrease of 0.7%. Contributing significantly to this decrease was the general downward movement in the prices of Irish potatoes, fresh whole chicken, onions, eddoes, pumpkin, plantains, chive, dasheen, sweet potatoes and ochroes. However, the full impact of these price decreases were offset by the general increases in the prices of table margarine, carrots, melon, green sweet peppers, parboiled rice, fresh carite and grapes, melongene, bodi and brown sugar.

“A further review of the data for October 2023 compared with September 2023 reflected increases in the sub-indices for Alcoholic Beverages and Tobacco of 0.5%, Housing, Water, Electricity, Gas and Other Fuels of 0.2%, Rent of 0.5%, Health of 5.2%, Transport of 0.2%, Communication of 3.4%, Recreation and Culture of 0.8%, Hotels, Cafés and Restaurants of 1.3% and Miscellaneous Goods and Services of 0.8%. Also, this period showed decreases in the sub-indices for Clothing and Footwear of 1.4% and Furnishings, Household Equipment and Routine Maintenance of the House of 0.9%. All other sections remained unchanged.

Inflation Rate

“The Inflation Rate for October 2023 (measured as the percentage change in the average All Items Index for the period January to October 2023/January to October 2022) was 5.4%. This represents a decrease from 5.8%, which was recorded in the previous period (January to September 2023/January to September 2022). The Inflation Rate for the comparative period (January to October 2022/January to October 2021) was 5.3%.”


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