Consumer goods and services rose by 5 per cent in the year to January 2022, according to the Central Statistics Office.
The latest Consumer Price Index (CPI) shows that almost all consumer prices rose in the last year as the cost of living crisis continues.
The area with the largest increase was transport at 14.1 per cent while housing, water, electricity, gas and other fuels rose by 12 per cent and alcohol and tobacco rose by 8.4 per cent.
The latest data shows a major surge in fuel and energy prices. Electricity up 22.4 per cent, gas was up 27.7 per cent and liquid fuels such was home heating oils seen an increase of 50.1 per cent in the year.
The only areas which seen a drop in prices were clothing and footwear down 3.7 per cent and miscellaneous goods and services which decreased by 0.8 per cent.
Although prices rose by 5 per cent in the year to January 2022, there was a monthly decrease down from the 5.5 per cent rate in December.
Prices rose by 5.0% in the year to January 2022https://t.co/yHdlDWDfzp #CSOIreland #Ireland #CPI #ConsumerPrices #Inflation #Deflation #Prices #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/etP7cTUdvb
— Central Statistics Office Ireland (@CSOIreland) February 17, 2022
Commenting on the monthly changes, Colin Cotter, statistician, said: “Consumer prices in January decreased by 0.4 per cent in the month.
"This is the first monthly decrease following 14 months of rising prices, which was the longest consecutive sequence of month-on-month inflation since the monthly CPI series began in 1997."
Diesel and petrol were up by 42.3 cent per litre and 40.7 cent per litre respectively between December 2020 and December 2021.
Meanwhile, the national average price for bread (a large 800g white sliced pan) was up 10.0 cent in the year to December 2021, while the same size brown sliced pan is up 13.2 cent in the year.
The national average price of a pint of stout at €4.94 was up 6.1 cent on average from December 2020, while a pint of lager at €5.31 was up 4.9 cent.
