Rents rise and prices hiked at food outlets stand out in January consumer prices

Rents rise and prices hiked at food outlets stand out in January consumer prices

Hikes in rents by private landlords and food outlets increasing prices stood out in the January consumer price figures.

The CSO figures showed rents rose by 0.4% in the month and that private-sector rents were on average 6.6% more expensive than in January 2018.

That means rents are now around 13% more expensive than at the end of 2016. Local authority rents also rose sharply, by 5% in the year.

There was also more evidence that the long era of falling mortgage variable costs is coming to an end.

Mortgage interest costs climbed 0.8% in January from December and rose 2.2% from January 2018, according to the figures.

The hike in the Vat rate for accommodation and hospitality may have been passed directly onto consumers.

The CSO figures show that prices across the category of restaurants, cafes, food service, and takeaways climbed 2% in the month and have risen 4.9% since January 2018.

Prices charged by restaurants and cafes rose 1% in the month and have climbed 3.9% since January 2018, while prices at licensed premises rose by 0.2% in January, and have risen 3% from a year earlier.

The CSO said other sharp rises in the annual rate were posted by housing, water, electricity, and gas prices, as well as alcoholic beverages and tobacco, and education costs.

Overall, the consumer price index fell 0.7% in the month but was up 0.7% from January 2018.

More on this topic

Rents rise 3.9% and heating oil price up 8% but prices remain subdued overallRents rise 3.9% and heating oil price up 8% but prices remain subdued overall

60% increase in new apartments built in two years60% increase in new apartments built in two years

Toyota the most popular brand for car buyers in January Toyota the most popular brand for car buyers in January

January unemployment rate of 4.8% up from December 2019 - CSOJanuary unemployment rate of 4.8% up from December 2019 - CSO

More in this Section

EU warns Google's takeover of Fitbit could lead to data privacy risk issuesEU warns Google's takeover of Fitbit could lead to data privacy risk issues

Rents rise 3.9% and heating oil price up 8% but prices remain subdued overallRents rise 3.9% and heating oil price up 8% but prices remain subdued overall

Madison Square Gardens joins world landmarks going green for Patrick's DayMadison Square Gardens joins world landmarks going green for Patrick's Day

GRAPEVINE: Children and Youth Funds pay tribute to 14 valuable projectsGRAPEVINE: Children and Youth Funds pay tribute to 14 valuable projects


Lifestyle

March is the perfect time to take action when it comes to your lawn, writes Peter DowdallGrassroots campaign: Take action in your lawn

Robin Maharaj, director at Kilkenny Architectural Salvage and AntiquesRobin Maharaj: ‘If you take a longterm view you won’t go wrong’

Fond recollections of a legend, an industry titan comes to Cork, Grimes' new album impresses critics, and Cork French Film Festival announces its lineup, writes Des O'DriscollScene and Heard: ‘Fail we may, sail we must’

Irish Examiner arts editor Des O'Driscoll picks his top gigs from the weekend's event, at venues around Cork City.Right Here, Right Now: this weekend's highlights

More From The Irish Examiner