Consumer prices rose by 8.9% over the last 12 months

Housing, water, electricity and gas saw the highest increases in prices over the year, up by more than 27%.
Consumer prices rose by 8.9% over the last 12 months

The most significant monthly price changes were in clothing and footwear which rose by 1.9% and food and non-alcoholic drinks which were up 0.7%.

Consumer prices have risen by 8.9% in the year to November 2022, the latest data has shown.

The rate at which prices are rising eased in November, according to the figures from the Central Statistics Office (CSO) down 0.3% on October of this year.

It marks the fourteenth consecutive month where the annual increase for the Consumer Price Index (CPI) has been at least 5%.

Housing, water, electricity and gas saw the highest increases in prices over the year, up by more than 27% while food and non-alcoholic drink prices went up by 11%.

Education was one of the only divisions to show a decrease when compared to November 2021 - down 7%.

The increased energy costs are reflected in yearly figures with electricity up 63.5%, gas up 88.7%, liquid fuels such as home heating fuel up 57.1% and solid fuels up 46.8%.

The rise in the cost of food and non-alcoholic drinks is due to the increased prices across products such as fresh whole milk (+32.7%), sugar (+24.8%), butter (+23%), eggs (+20.8%) and bread (+17.7%) compared with November 2021.

The most significant monthly price changes were in clothing and footwear which rose by 1.9% and food and non-alcoholic drinks which were up 0.7%.

"Food and non-alcoholic beverages increased due to higher prices across a range of products such as such as meat, bread and cereals, milk, cheese and eggs and vegetables," said Anthony Dawson, Statistician in the Prices Division, CSO.

Alcoholic beverages and tobacco (-0.4%) and education (-0.4%) were the only divisions to show a decrease when compared to October 2022.

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