CSO: Inflation rate at 6.8% for June

Business

6 Hrs Ago

The Central Statistical Office (CSO) has reported a 0.2 per cent decrease in inflation for the month of June, according to its latest retail price index.

The inflation rate – measured as a percentage change in the average all items index – for January to June 2023/2022 was 6.8 per cent, compared to seven per cent for January to May 2023/2022.

The inflation rate for the previous comparative period (January to June 2022/2021) was 4.5 per cent.

According to the release, the all items index of retail prices was 122.9, representing an increase of 0.4 points or 0.3 per cent above the index for May 2023.

The index for food and non-alcoholic beverages increased from 143.0 in May 2023 to 145.3 in June 2023, reflecting an increase of 1.6 per cent.

Contributing significantly to this increase was the general upward movement in the prices of tomatoes; chilled or frozen beef; fresh beef; chilled or frozen pork; celery; onions; Irish potatoes; powdered milk – full cream; melongene and mixed fresh seasoning, the release said.

However, the full impact of these price increases was offset by the general decreases in the prices of cucumber; carite-fresh; other chilled or frozen chicken; sweet potatoes; cheddar cheese; carrots; king fish-fresh; table margarine; green pigeon peas and salmon-fresh.

“A further review of the data for June 2023 compared with May 2023 reflected an increase in the sub-index for alcoholic beverages and tobacco of 0.1 per cent and health of 0.1 per cent. Also, this period showed a decrease in the sub-index for clothing and footwear of 0.3 per cent. All other sections remained unchanged,” the release said.