CSO reports 2.2% rise in consumer prices for July 2024

Consumer prices increased by 2.2% in July 2024 compared to the same month last year, driven by higher costs in Transport and Restaurants & Hotels

The Central Statistics Office (CSO) recently published the Consumer Price Index (CPI) July 2024.

Anthony Dawson, Statistician in the Prices Division, CSO, said: “This  publication of the CPI shows that prices for consumer goods and services in July 2024 rose by 2.2% on average when compared with July 2023.”

Annual changes 

According to Dawson, the most significant rises in the 12 months to July 2024 were seen in Transport (+5.5%) and Restaurants & Hotels (+4.3%). The annual change in Transport costs reflects increases in prices for diesel (+11.9%) and petrol (+8.8%).

Clothing & Footwear (-4.9%) and Furnishings, Household Equipment & Routine Household Maintenance (-1.0%) were the divisions to show the largest declines when compared with July 2023.

Monthly changes

Consumer prices in July 2024 rose by 0.2% in the month. During July 2023, prices also grew by 0.2% in the month. 

In July 2024, the most significant monthly price changes were increases in Recreation & Culture (+3.0%) and Transport (+1.9%). Recreation & Culture rose due to an increase in the cost of package holidays.

Clothing & Footwear (-6.2%) and Miscellaneous Goods & Services (-0.3%) were the divisions to show the largest declines when compared with June 2024.

These figures relate to the CPI. The flash estimate published on 30 July 2024 related to the EU Harmonised Index of Consumer Prices (HICP).