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PRICES FOR ALCOHOL, tobacco, and dining out have increased since last year.
According to the latest figures from the Central Statistics Office (CSO) prices for alcohol and tobacco are up 3.9%, education costs are up 4.8% and restaurant and hotel prices are up 2.7% since October 2013.
The main factor behind the increase in restaurants and hotels is due to higher prices for alcoholic drinks, hotel accommodation and food consumed in licensed premises, restaurants and cafes.
Health premiums
Miscellaneous Goods and Services rose primarily due to higher health and motor insurance premiums and the increased costs associated with the local property tax.
Alcoholic drinks and tobacco increased due to higher prices for alcohol sold in off licences and supermarkets and higher tobacco prices.
On average prices were 0.2% higher in October than this time last year.
However, there is some good news. We are paying less for clothing, footwear, non-alcoholic drinks, furnishings, household equipment and transport.
Food and non-alcoholic drinks decreased due to lower prices across a range of products such as meat, vegetables and bread and cereals, while transport fell mainly due to lower petrol and diesel prices and a reduction in the price of motor cars.
In terms of monthly inflation, there has been a decrease, due to a fall in transport due to a fall in airfares and lower petrol costs this month, as well as for restaurant and hotel prices, due to the fall in accommodation costs.
Davy says the latest Consumer Price Index data shows inflation is continuing to fall, declining to 0.2% in the year to October from 0.3%.
“With oil prices still falling and offsetting the inflationary pressures now emerging in the economy, the outlook is for further weak inflation, with the possibility of a bout of deflation in the near term.”
At face value, Davy said goods trade data for September point to a slowdown in exports in the third quarter, however, they doubt that this is the case given the strength of the services sector and the emergence of offshore goods exports not captured in the monthly trade data.
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Guess what… We will be paying even more this time next year!
Wow, what a bold prediction.
You dont have to be a Mentalist like Keith Barry to figure that out.
Yup…one whiff of economic recovery and their out with the chalk to stick more on their prices…
Will our wages go up to match inflation?!?!..Will it fcuk!!!!
Sweet Jaysus was in Monaco last weekend for the wife’s birthday, €16 for a pint of beer, €55 if ya fancy a brandy – get me back to Temple Bar quick! all is forgiven
We pay more EVERY year and thanks for reminding me.
We get crippled trying to have the simple pleasures. Rip off country
Well of Course we are paying more for Alcohol in Off Licences and Restaurants as the Government increased Wine and Tobacco in the2013 Budget.. This is a ridiculous article blaming the Restauranteurs and Off licence owners for the Problem.. Place the blame at the Feet of the FG/Labour Government for the increase..
Temple bar receipt. ..just 1 more time!?
If you buy from the supermarket or offie it’s not too bad. And rolling tobacco isn’t too expensive.
Does anyone really believe that average prices rose by 0.2% in the past 12 months?
Unsurprisingly, statisticians are encouraged to under-report inflation using CPI rather than other indices such as RPI.
Under-reporting inflation offers benefits to the government such as preventing/mitigating rises in state benefits, salaries of public sector and making rises in GDP/GNP appear positive while the economy is contracting.
In other words, don’t believe official reports on inflation rates or the causes of rising prices.
” If you believe the public comments made by the world’s central bankers, the prices that consumers pay for items are not rising fast enough; in some places like Europe they worry that prices might actually fall (a tragedy for the possessing classes, as their manic one-way long bets might not work then). Central bankers are terrified of this outcome. Setting aside for a second the apparent insanity of this logic for your average consumer, who experiences price rises on a near continuous basis, let’s examine in detail one of the (jokes) gauges economists use for measuring prices: the Consumer Price Index (CPI).”
” The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.”
simple. shop in the north of Ireland. the difference is huge
The UK is a bit more expensive than Ireland owing to the exchange rate.
What’s new
Have you seen the exchange rates lately? That coupled with high inflation in the UK in recent years, means the savings have vanished. That’s before even factoring in Petrol costs.
No s h I t
This is joke considering they have such a low vat rate. Greedy publicans etc
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