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Transport And Alcoholic Beverage Prices Increased In Year To January, According To CSO

By Dave Simpson

Transport and alcoholic beverages & tobacco prices increased by 14.1% and 8.4%, respectively, in the year to January, according to the CSO's Consumer Price Index January 2022.

Monthly Changes

According to a statement published on the CSO's website, the monthly price changes of transport and alcoholic beverages & tobacco in January were -3.7% and +9.9%, respectively, and the monthly price change for recreation & culture was +0.6%.

Main Factors Contributing To Annual Changes

Transport prices increased during the year to January mainly as result of higher prices for cars, diesel and petrol and an increase in the cost of services in respect of personal transport equipment, while alcoholic beverages & tobacco prices increased during the year to January as a result of higher prices for alcoholic beverages sold in supermarkets and off licences and an increase in the cost of tobacco products, and food & non-alcoholic beverages increased during the year to January as a result of higher prices across a range of products such as bread & cereals, meat and mineral waters, soft drinks, fruit & vegetable juices, according to the statement published on the CSO's website.

Main Factors Contributing To Monthly Changes

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Transport prices decreased monthly in January as a result of lower prices for airfares and services in respect of personal transport equipment, while alcoholic beverages & tobacco prices increased as a result of higher prices for alcoholic beverages sold in supermarkets and off licences, according to the statement published on the CSO's website.

Minimum Unit Pricing

The statement published on the CSO's website also noted that minimum unit pricing for alcohol came into effect in January of this year and alcoholic beverage prices increased on average by 17.4% between December of last year and January of this year, and were up 8.7% from January of last year.

© 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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