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Press Statement

Preasráiteas

08 July 2021

Press Statement Consumer Price Index June 2021

Prices on average, as measured by the CPI, were 1.6% higher in June 2021 compared with June 2020
  • This is the second largest annual change since April 2019, following May 2021 (+1.7%)
  • The divisions with the largest increases in the year were Housing, Water, Electricity, Gas & Other Fuels (+4.9%), Transport (+3.1%), Health (+2.4%) and Restaurants & Hotels (+1.7%)
  • There were decreases in Communications (-1.6%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.8%) when compared to June 2020
  • Prices have increased 0.2% in the month which is the eighth month in a row that has shown monthly inflation
  • The most significant monthly price changes were increases in Transport (+1.7%) and Health (+0.3%)
  • The requirement for imputation of price change was at the lowest point since the start of the pandemic as a result of easing of restrictions

Go to release: Consumer Price Index June 2021

The Central Statistics Office (CSO) has today (08 July 2021) released Consumer Price Index (CPI) June 2021.

Commenting on the release, Colin Cotter, Statistician, said:“The Consumer Price Index Statistics for June 2021 show a rise in prices of 1.6% on average compared to June 2020. In June 2021, the largest increase in the year could be seen in Housing, Water, Electricity, Gas & Other Fuels (+4.9%), which contributed to almost half of the overall change. This increase was mainly caused due to a rise in the cost of home heating oil, electricity, gas, higher rents and mortgage interest repayments.

Other divisions which caused the largest upward contribution to the CPI in the year were Transport which rose 3.1% and Restaurant and Hotels which rose 1.7%. Transport increased primarily due to a rise in the cost of diesel, petrol and higher prices for motor cars. This increase was partially offset by a reduction in air fares. Restaurants & Hotels rose mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. This increase was partially offset by lower prices for hotel accommodation.

Consumer Prices in June increased by 0.2% in the month. This is the eighth month in succession that prices have increased when compared to the previous month. During June of last year, prices rose by 0.3% in the month. 

The most significant monthly price change was in Transport (+1.7%) primarily due to an increase in airfares, higher prices for diesel, petrol and motor cars.”

Colin Cotter further commented:

“As a result of easing restrictions and recent reopening of outdoor dining, the June 2021 CPI represents the lowest requirement for the imputation of prices in any month since the beginning of the pandemic. Price change is imputed for items in the basket where consumption has not recommenced, or it was not possible to collect reliable price information. It was estimated that households, on average, were unable to consume 1.1% of the goods and services in the CPI basket of goods and services in June. In contrast in June 2020, imputation of price change was required for 26.1% of the goods and services in the CPI basket.” 

For further information contact:

Colin Cotter (+353) 21 453 5770

or email cpi@cso.ie

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