The speed of inflation has eased however costs are nonetheless rising. (PA)
The speed of worth rises has eased again once more regardless of no cuts in electrical energy and fuel costs.
Newest figures from the Central Statistics Workplace present that the inflation was 6.1pc in June.
This implies the inflation price has no less than 5pc for 21 months in a row.
And meals prices proceed to shoot up regardless of cuts in a variety of grocery costs introduced lately by Tesco, with own-brand milk worth reductions additionally carried out by Lidl and Aldi.
The CSO stated that in June costs of meals and non-alcoholic drinks rose as a result of larger costs throughout a variety of merchandise equivalent to meat, bread and cereals, greens and milk, cheese and eggs.
Meals and non-alcoholic drinks rose at a price of 10.2pc final month.
The patron worth index, the official measure of inflation, additionally noticed will increase in the price of mortgage curiosity repayments, rents, electrical energy, fuel and stable fuels.
Larger costs for alcoholic drinks and meals consumed in licensed premises, eating places, cafes had been additionally recorded as was the price of lodge lodging.
The CSO stated in June it recorded larger costs for bundle holidays, participation in leisure and sporting companies and merchandise for pets.
The transport sub-section of the index fell primarily as a result of decrease costs for diesel, petrol, companies in respect of private transport gear and passenger transport by bus and coach.
This lower was partially offset by larger costs for airfares and motor vehicles.
CSO statistician Anthony Dawson stated: “The newest publication for the patron worth index (CPI) reveals that costs for client items and companies in June 2023 elevated by 6.1pc on common in comparison with June 2022.
“This was down from 6.6pc within the 12 months to Could 2023. Costs have been rising on an annual foundation since April 2021, with annual inflation of 5.0pc or extra recorded in every month since October 2021.”
Previously yr there have been rises of just about 35pc in the price of electrical energy, with fuel up 47pc.
Mortgage curiosity prices are up 46pc, as all lenders have elevated tracker expenses, with variables and new mounted charges additionally going up.
The price of bundle holidays is up 43pc within the yr.
CSO statisticians offered a choice of worth rises over the past yr.
The nationwide common worth for bread (giant (800g) white sliced pan) was up 11c within the yr to June, whereas the identical sized brown sliced pan was up 8c within the yr.
Spaghetti per 500g elevated by 24c within the yr, whereas the typical worth for two.5kg of potatoes was up 1c.
Full fats milk per 2 litres elevated by 28c within the yr, with the typical worth of Irish cheddar per kg rose by 74c and butter per lb rose by 29c.
The nationwide common worth of a take-home 50cl can of lager at €2.32 was up 18c on common from June final yr, whereas a take-home 50cl can of cider at €2.57 was up 14c.
In June this yr, the nationwide common worth of a pint of stout in licensed premises was €5.52, up 39c within the yr, whereas a pint of lager was €5.97, up 44c in contrast with June final yr.
Finance Minister Michael McGrath stated final month inflation was “at or near the height”, and he expects to see it moderating any more.
Nonetheless, meals costs stay excessive.
A current evaluation of the retail grocery market by the Competitors and Client Safety Fee (CCPC) discovered meals costs in Eire stay excessive in a global context.
And the EU’s statistics company Eurostat discovered that Eire had the best client costs within the EU final yr.
That is due largely to excessive alcohol and tobacco taxes and the price of power and communications.
Total costs for client items and companies right here had been 46pc above the bloc’s common in 2022, in keeping with Eurostat.