April on-trade soft drinks prices up 4.2%
Soft drinks and mineral water prices in the on-trade saw an annual increase of 4.2% in April and a 0.2% increase on March according to the Consumer Price Index for April released by the Central Statistics Office and while level-pegging with March, the price of alcohol rose 1.6% overall in the year to April. But in the three months from February to April alcohol prices were down 0.9% compared to the same quarter last year.
Off-trade alcohol prices actually fell 1.3% in the 12 months to April while the sector was 0.1% down on the previous month, March. Within this, spirits prices were down 2.8% in the year but April spirits prices were up 1.9% on March. Meanwhile wine prices were down by 2.0% in the year and by 0.9% on March prices. April’s beer prices were up 0.6% in the 12 months and up 0.3% on March.
Prices in licensed premises in April showed growth of 2.9% for the year but level-pegged on March. Spirits prices were up 2.9% in April for the year and by just 0.1% on March as wine prices showed an on-trade increase of 2.3% although they were down 0.2% on March pries and beer prices rose 2.8% in the year and by 0.1% on March.
The hospitality sector figures among those which caused the largest contribution to the CPI in the year, primarily due to higher prices for alcoholic drinks and food consumed in the on-trade and an increase in the cost of hotel accommodation.
VAT also returned from 9% to 13.5% at the beginning of this year.