Inflation Holds Steady at 2.2% in July; Core Consumer Prices Up 3.1% Year-on-Year, Reports CSO
Dublin: Inflation remained steady at 2.2% in July, according to the Central Statistics Office (CSO). Excluding energy and unprocessed food, consumer prices saw a year-on-year rise of 3.1%. The most significant annual increases were in transport (+5.5%) and restaurants and hotels (+4.3%), driven by higher costs for diesel, petrol, food, and drink.
In contrast, prices for clothing and footwear (-4.9%) and household furnishings (-1%) declined. Housing costs dropped by 0.3%, mainly due to lower electricity and coal prices, though this was offset by rising mortgage interest, rent, and heating oil. Monthly, consumer prices rose 0.2%, with the largest increases in recreation and culture (+3%) and transport (+1.9%), while clothing and footwear prices fell 6.2%. The Harmonised Index of Consumer Prices (HICP) rose by 1.5% year-on-year. The CSO also noted small price changes in everyday items, including decreases in bread and milk costs but increases in potatoes, cheddar, and alcoholic beverages.
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