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Restaurant & Hotel Prices Increased Year-On-Year In September, Says CSO

By Dave Simpson

Restaurant & hotel prices increased in September, according to data revealed by the Central Statistics Office (CSO) in its Consumer Price Index (CPI) September 2022.

Data

According to a statement published on CSO.ie, as measured by the CPI, prices on average increased 8.2% year-on-year in September of this year, with the most notable changes in the year being increases in housing, water, electricity, gas & other fuels (+20.0%), transport (+11.3%), food & non-alcoholic beverages (+9.9%) and restaurants & hotels (+7.6%), while the most significant monthly price changes were increases in clothing & footwear (+4.0%) and housing, water, electricity, gas & other fuels (+1.4%), but there were monthly decreases in Transport (-3.6%) and restaurants & hotels (-0.3%).

Annual Changes

According to the statement published on CSO.ie, the divisions that caused the largest upward contribution to the CPI in the year were housing, water, electricity, gas & other fuels (+3.24%), transport (+1.52%), restaurants & hotels (+1.17%) and food & non-alcoholic beverages (+1.15%).

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According to the CSO statement, transport increased annually mainly as a result of an increase in prices for motor cars, diesel, petrol and services in respect of personal transport equipment, with this increase being partially offset by lower prices for passenger transport by bus & coach and by railway, while restaurants & hotels increased annually primarily as result of to higher prices for alcoholic drinks and food consumed in hospitality venues and an increase in the cost of hotel accommodation, and food & non-alcoholic beverages increased as result of higher prices across a range of products including meat, bread & cereals and milk, cheese & eggs.

Monthly Changes

Additionally, according to the statement published on CSO.ie, the divisions that caused the largest downward contribution to the CPI in the month were transport (-0.51%) and restaurants & hotels (-0.05%), with transport decreasing monthly primarily as a result of lower prices for airfares, petrol, services in respect of personal transport equipment and passenger transport by bus & coach, with this decrease being partially offset by an increase in the cost of motor cars, and restaurants & hotels decreased monthly as a result of lower prices for hotel accommodation.

© 2022 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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