Inflation rate steady at 0.7% again in October – CSO
The rate of inflation rose by 0.7% in the 12 months to October 2024, according to the latest Central Statistics Office figures.
There was a significant fall in energy prices over the past year.
Electricity prices were down 16%, gas fell 18%, petrol dropped 8% and diesel was down 12%.
However, prices in restaurants and hotel were up 3.7% and cigarettes also rose by 10%.
“There were price increases in October for a pound of butter (+49c), a 2.5kg bag of potatoes (+31c), Irish cheddar cheese per kg (+9c), and two litres of full fat milk (+3c),” Anthony Dawson of the CSO said.
“There were decreases in the price of spaghetti per 500g (-4c), an 800g loaf of white sliced pan (-4c), and an 800g loaf of brown sliced pan (-2c) when compared with October 2023,” he added.
Today’s figures are based on the CSO’s official measure of inflation which includes the cost of mortgage interest.
The rate of inflation is slightly higher than the main measure used across the EU for the flash estimate which excludes mortgage interest and estimated inflation came in at 0.1% for the 12 months to October.
Article Source – Inflation rate steady at 0.7% again in October – CSO – RTE
