Housing and utility costs jump by 5% on 2020 figures, CSO

The Consumer Price Index (CPI) increased by 1.6% in the past year to June, according to the Central Statistics Office (CSO).
Housing and utility costs jump by 5% on 2020 figures, CSO

The price of housing, water and energy increased by 4.9 per cent in the 12 months to June, according to figures from the Central Statistics Office (CSO).

The Consumer Price Index (CPI), which measures the overall change in the cost of goods and services which consumers typically buy, rose by 1.6 per cent in the same period compared to the previous 12 months.

The 'housing, water, electricity, gas & other fuels' category noted the largest annual increase, which was attributed to higher rents and increases in mortgage interest repayments, home heating oil and electricity bills.

The second biggest change was noted in transport, the cost of which increased by 3.1 per cent, however, the CSO states this increase was partially offset by a reduction in airfares during the year.

Alcoholic beverages and tobacco also saw increased prices, partially attributed to the rising cost of wine and spirits in supermarkets and off-licences.

In contrast, price decreases were seen in the communications (-0.05 per cent), furnishing, household equipment & routine household maintenance (-0.04 per cent), and food and non-alcoholic beverages (-0.01 per cent) categories.

Monthly changes

Breaking the data into monthly figures, the CSO found the largest price increases between May-June this year were seen in transport (0.23 per cent) and restaurants & hotels (0.3 per cent), although the cost of miscellaneous goods & services fell by 0.07 per cent in the same period.

In the year to June, the overall cost of services rose by 1.2 per cent, while the overall cost of goods jumped by 1.7 per cent.

The CSO also notes that the CPI excluding mortgage interest had a monthly increase of 0.2 per cent in June, while the annual increase was 1.5 per cent.

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