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

By Dave Simpson

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

Year-On-Year Price Changes

According to a statement published on CSO.ie, transport prices increased by 19.4% year-on-year in July, while alcoholic beverages & tobacco prices increased by 7.8%, and the upward contribution to the consumer price index (CPI) by restaurant & hotel prices in the year to July was +1.18%

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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, services in respect of personal transport equipment and air fares, with this increase being partially offset by lower prices for passenger transport by bus & coach and railway, 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, and food & non-alcoholic beverage prices increased as a result of higher prices across a range of products such as meat, bread & cereals, and milk, cheese & eggs.

Month-On-Month Price Changes

Additionally, the monthly upward contribution to the consumer price index (CPI) by transport and restaurants & hotels in July was +0.26% and 0.19%, respectively, according to the statement published on CSO.ie, which also noted that transport prices increased month-on-month mainly as a result of a rise in prices for air fares, services in respect of personal transport equipment and motor cars, with this rise being partially offset by lower prices for petrol & diesel, while restaurants & hotels prices increased month-on-month in July mainly as a result of a rise in hotel accommodation cost and higher prices for alcoholic drinks and food consumed in hospitality venues.

© 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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