Annual inflation rose by 1.8% in the 12 months to February 2025, just below the 1.9% increase recorded in January, according to the Central Statistics Office (CSO).
The Consumer Price Index (CPI) grew by 2.2% when the categories of energy and unprocessed food were discounted from the results.
Alcoholic Beverages & Tobacco reported the largest increase in the 12-month period at 3.7%, followed by Restaurants & Hotels at 3.1%.
These figures point to an ongoing trend of steep prices impacting the hospitality sector, in addition to customers limiting luxuries in the face of high costs.
The only divisions to record a decline when compared with February 2024 were Clothing & Footwear – down 4.1% – and Furnishings, Household Equipment & Routine Household Maintenance – down 0.8%.
All other divisions increased in the period.
Consumer prices rose by 0.9% between January 2025 and February 2025, with Clothing & Footwear and Recreation and Culture showing the biggest jumps, at 6.1% and 2.3% respectively.
Anthony Dawson, statistician in the prices division, commented on price changes within the food division as part of the reading.
These average prices on a few products illustrate the impact of inflation in the grocery sector.
Dawson said, “There were price increases in February 2025 for a pound of butter (+70c), Irish cheddar per kg (+50c), two litres of full fat milk (+26c), and spaghetti per 500g (+3c).
“There were reductions in the price of a 2.5kg bag of potatoes (-1c) and an 800g loaf of brown sliced pan (-1c), while the price of an 800g loaf of white sliced pan remained unchanged when compared with February 2024.”
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