Inflation rise to 1.4% led by restaurant and hotel sector

According to the CSO, the inflation figure is up on the 1% rate recorded in the 12 months to November.

Inflation in the Irish economy rose to 1.4% for the 12 months to December, data shows.

According to the CSO, the inflation figure is up on the 1% rate recorded in the 12 months to November.

When energy and unprocessed food are excluded, the Consumer Price Index grew by 2.1%.

Annual increases were led by the restaurant and hotel sector, with a 3.7% rise, followed by the recreation and culture sector with a 3.2% jump.

The only sectors to record a decline when compared with December 2023 were clothing and footwear — which were down 8% — and furnishings, household equipment, and routine household maintenance down 1.3%.

The headline 1.4% rate is the second monthly rise since inflation bottomed out at 0.7% in September and October.

The rate had been declining since inflation peaked at 9.2% in October 2022 at the peak of the cost-of-living crisis.

The CSO said prices rose for a range of specific items in the 12 months to December.

The national average price of a pint of stout in licensed premises was €5.82, up 18c in the year. A pint of lager was €6.27, up 21c compared with December 2023.

The average price of full-fat milk per two litres was up 18c in the year, while butter per lb rose by 60c and the average price of Irish cheddar per kg increased by 14c.

Additionally, bread prices fell — with large (800g) white and brown sliced pans down 1c.