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Transport, Alcoholic Beverage, Hotel And Restaurant Prices Increased Year-On-Year In April

Published on Jun 8 2022 9:08 AM in General Industry tagged: Featured Post / cso / Central Statistics Office

Transport, Alcoholic Beverage, Hotel And Restaurant Prices Increased Year-On-Year In April

The prices of transport, alcoholic beverages, hotels and restaurants increased year-on-year in April, according to the Central Statistics Office (CSO) Consumer Price Index for April 2022.

Year-On-Year Price Changes

According to a statement published on CSO.ie, transport prices increased by 18.9%, year-on-year in April, while alcoholic beverage & tobacco prices increased by 5.1% and restaurant & hotel prices increased by 5%.

The statement published on CSO.ie noted that transport prices increased year-on-year mainly as a result of a rise in prices for diesel, petrol, motor cars, air fares and services in respect of personal transport equipment, while restaurant & hotel prices increased as a result of higher prices for alcoholic drinks and food consumed in hospitality venues and an increase in the cost of hotel accommodation.

Month-On-Month Price Changes

Additionally, alcoholic beverage & tobacco prices decreased by 0.6% month-on-month in April, according to the statement published on CSO.ie, which also noted that the divisions that caused the largest upward contribution to the CPI in April were restaurants & hotels (+0.26%) and transport (+0.24%) while the divisions that caused the largest downward contribution in April were alcoholic beverages & tobacco (-0.04%) and miscellaneous goods & services (-0.03%), with restaurants & hotels prices increasing in April as result of a rise the cost of hotel accommodation and higher prices for alcoholic drinks and food consumed in hospitality venues; transport prices rising in April primarily as a result of higher prices for airfares, motor cars and services in respect of personal transport equipment; alcoholic beverages & tobacco prices decreasing in April mainly as a result of lower prices for wine sold in supermarkets and off licences; and miscellaneous goods & services prices dropping primarily as a result of a reduction in motor insurance premiums and lower prices for articles and products for personal care.

© 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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