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Consumer Price Index April 2024

Consumer prices rose by 2.6% over the 12 months to April 2024

Online ISSN: 2009-5767
CSO statistical publication, , 11am

Key Findings

  • The Consumer Price Index (CPI) rose by 2.6% between April 2023 and April 2024, down from an annual increase of 2.9% in the 12 months to March 2024.

  • This is the sixth time since September 2021 that the annual growth in the CPI has been below 5% while also being the sixth consecutive month where the inflation rate was lower than 5%.

  • Excluding energy and unprocessed food, the CPI went up by 3.5% in the 12 months to April 2024.

  • The divisions with the largest increases in the 12 months to April 2024 were Recreation & Culture (+5.2%) and Restaurants & Hotels (+4.8%).

  • The only divisions to record a decline when compared with April 2023 were Clothing & Footwear (-6.7%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.8%).

  • Consumer prices grew by 0.2% in the month between March 2024 and April 2024.

  • The divisions with the largest growth in the month were Communications (+2.2%) and Alcoholic Beverages & Tobacco (+2.0%).

  • The divisions with the largest declines in the month were Recreation & Culture (-1.9%) and Transport (-0.5%).

Statistician's Comment

The Central Statistics Office (CSO) has today (09 May 2024) published the Consumer Price Index (CPI) April 2024.

Commenting on annual changes shown in the release, Anthony Dawson, Statistician in the Prices Division, said: “Today’s publication of the Consumer Price Index (CPI) shows that prices for consumer goods and services in April 2024 rose by 2.6% on average when compared with April 2023. This is the sixth time since September 2021 that the annual growth in the CPI was below 5%. It is also the sixth consecutive month where the inflation rate was lower than 5%.

Annual Changes 

The most significant rises in the 12 months to April 2024 were seen in Recreation & Culture (+5.2%) and Restaurants & Hotels (+4.8%). The annual change in Recreation & Culture costs reflects a rise in prices for package holidays (+16.7%).

Clothing & Footwear (-6.7%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.8%) were the only divisions to show a decrease when compared with April 2023.

Monthly Changes

Consumer prices in April 2024 rose by 0.2% in the month. During April 2023, prices grew by 0.5% in the month. In April 2024, the most significant monthly price changes were increases in Communications (+2.2%) and Alcoholic Beverages & Tobacco (+2.0%). Communications rose due to an increase in the cost of telephone services.

Recreation & Culture (-1.9%) and Transport (-0.5%) were the divisions to show the largest declines when compared with March 2024.

It should be noted that these figures relate to the CPI. The flash estimate published on 29 April 2024 related to the EU Harmonised Index of Consumer Prices (HICP). (See Background Notes for differences between CPI and HICP)"

National Average Prices

The National Average Prices for selected goods and services for April 2024 are also published today. The National Average Prices are compiled together with the CPI. Commenting on the National Average Prices, Anthony Dawson said: “There were price increases in April 2024 for a 2.5kg bag of potatoes (+61c) and 500g of spaghetti (+1c), while there were decreases in the price of Irish cheddar cheese per kg (-26c), a pound of butter (-15c) and two litres of full fat milk (-9c) when compared with April 2023.” The comprehensive list of items included in the National Average Prices and their monthly prices are available at: https://data.cso.ie/table/CPM12.

Headline Table and Graph

Figure 1 shows the development of the CPI and HICP over recent months. It also shows the recent divergence of the CPI and HICP. This divergence is primarily due to the fact that the CPI includes mortgage interest whereas the HICP does not include mortgage interest.

CPI and HICP
 CPI HICP
 % monthly change % annual change % monthly change % annual change
Dec 20230.5 4.6 0.4 3.2
Jan 2024-1.3 4.1 -1.4 2.7
Feb 20241.0 3.4 1.1 2.3
Mar 20240.5 2.9 0.3 1.7
Apr 20240.2 2.6 0.2 1.6
X-axis labelCPIHICP
Apr 20237.26.3
May 20236.65.4
Jun 20236.14.8
Jul 20235.84.6
Aug 20236.34.9
Sep 20236.45
Oct 20235.13.6
Nov 20233.92.5
Dec 20234.63.2
Jan 20244.12.7
Feb 20243.42.3
Mar 20242.91.7
Apr 20242.61.6

Annual and Monthly Price Changes

Prices on average, as measured by the CPI, were 2.6% higher in April 2024 compared with April 2023.

The most notable changes in the year were increases in Recreation & Culture (+5.2%), Restaurants & Hotels (+4.8%), Alcoholic Beverages & Tobacco (+4.7%) and Transport (+4.1%). The only divisions to show a decrease were Clothing & Footwear (-6.7%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.8%).

Consumer Prices in April, as measured by the CPI, increased by 0.2% in the month. During April of last year, prices rose by 0.5% in the month. The most significant monthly price changes were increases in Communications (+2.2%) and Alcoholic Beverages & Tobacco (+2.0%). The largest decreases were recorded in Recreation & Culture (-1.9%) and Transport (-0.5%).

Table 1 - Consumer Price Index (All Items)

Table 2 - Consumer Price COICOP Division Indices - April 2024

Contributions to the Overall CPI

Annual Change

Table 3 shows the contribution of each 2-digit COICOP1 division to the overall change in the CPI. A detailed breakdown of the individual components of each of the 12 COICOP divisions is presented in Tables 4 to 15.

The divisions which caused the largest upward percentage point (pp) contributions to the CPI in the year were Restaurants & Hotels (+0.86 pp), Transport (+0.52 pp), Miscellaneous Goods & Services (+0.38 pp) and Recreation & Culture (+0.36 pp).

The only divisions to cause a downward contribution to the CPI in the year were Clothing & Footwear (-0.37 pp) and Furnishings, Household Equipment & Routine Household Maintenance (-0.04 pp).

The main factors contributing to the annual change were as follows:

  • Restaurants & Hotels rose mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. and an increase in the cost of hotel accommodation.
  • Transport increased primarily due to higher prices for diesel, petrol, motor cars, the maintenance & repair of personal transport equipment and services in respect of personal transport equipment. This increase was partially offset by lower prices for airfares.
  • Miscellaneous Goods & Services rose mainly due to higher health insurance premiums, an increase in prices for hairdressing salons & personal grooming establishments and higher motor insurance premiums. This increase was partially offset by lower prices for jewellery, clocks & watches.
  • Recreation & Culture increased primarily due to higher prices for package holidays, participation in recreational & sporting services and cultural services.
  • Clothing & Footwear decreased due to sales.
  • Furnishings, Household Equipment & Routine Household Maintenance fell mainly due to lower prices for furniture & furnishings and household textiles. This reduction was partially offset by higher prices for domestic services.

1Classification of Individual Consumption by Purpose Adapted to the Needs of Harmonised Indices of Consumer Prices (2000).

Figure 2: Contribution of CPI COICOP Divisions to the Overall CPI Annual Percentage Change - April 2024
Monthly Change

The divisions which caused the largest upward percentage point contributions to the CPI in the month were Alcoholic Beverages & Tobacco (+0.10 pp) and Restaurants & Hotels (+0.07 pp). The only divisions to cause a downward percentage point contribution to the CPI in the month were Recreation & Culture (-0.13 pp) and Transport (-0.06 pp).

The main factors contributing to the monthly change were as follows:

  • Alcoholic Beverages & Tobacco increased due to higher prices for alcoholic beverages sold in supermarkets and off licences and a rise in the cost of tobacco products.
  • Restaurants & Hotels rose mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. and a rise in the cost of hotel accommodation.
  • Recreation & Culture decreased primarily due to lower prices for package holidays.
  • Transport fell mainly due to lower prices for airfares. This decrease was partially offset by higher prices for petrol and diesel.
Table 3 - Contributions to the change in the All Items CPI - April 2024

CPI sub-indices

Tables 4 to 15 detail all COICOP1 sub-indices of the CPI.

Table 2 and table 17 detail selected consumer price index sub-indices. The sub index for Services rose by 3.5% in the year to April, while Goods increased by 1.2%. Services, excluding mortgage interest repayments, increased by 2.3% in the year since April 2023.

The CPI excluding tobacco increased by 0.2% in the month of April and rose by 2.3% in the year. The CPI excluding mortgage interest rose by 0.2% in the month and increased by 1.9% in the year.

1Classification of Individual Consumption by Purpose Adapted to the Needs of Harmonised Indices of Consumer Prices (2000).

Table 4 - COICOP Division 01 Food and Non-Alcoholic Beverages - April 2024

Table 5 - COICOP Division 02 Alcoholic Beverages and Tobacco - April 2024

Table 6 - COICOP Division 03 Clothing and Footwear - April 2024

Table 7 - COICOP Division 04 Housing, Water, Electricity, Gas and Other Fuels - April 2024

Table 8 - COICOP Division 05 Furnishings, Household Equipment and Routine Household Maintenance - April 2024

Table 9 - COICOP Division 06 Health - April 2024

Table 10 - COICOP Division 07 Transport - April 2024

Table 11 - COICOP Division 08 Communications - April 2024

Table 12 - COICOP Division 09 Recreation and Culture - April 2024

Table 13 - COICOP Division 10 Education - April 2024

Table 14 - COICOP Division 11 Restaurants and Hotels - April 2024

Table 15 - COICOP Division 12 Miscellaneous Goods and Services - April 2024

Table 16 - Consumer Price Index Goods and Services by COICOP Division - April 2024

Table 17 - Consumer Price Index Subindices - April 2024

Harmonised Index of Consumer Prices

Prices on average, as measured by the EU Harmonised Index of Consumer Prices (HICP), increased by 1.6% compared with April 2023.

Table 19 details the COICOP sub-indices for the HICP. The most notable changes in the year were increases in Recreation & Culture (+5.1%), Restaurants & Hotels (+4.9%), Alcoholic Beverages & Tobacco (+4.6%) and Transport (+4.3%). There were decreases in Clothing & Footwear (-6.6%), Housing, Water, Electricity, Gas & Other Fuels (-4.0%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.8%).

The HICP increased by 0.2% in the month. This compares to an increase of 0.3% recorded in April of last year.

The most significant monthly price changes were increases in Communications (+2.2%) and Alcoholic Beverages & Tobacco (+2.0%). There were decreases in Recreation & Culture (-1.9%) and Transport (-0.5%).

Table 18 - EU Harmonised Index of Consumer Prices (HICP) - Ireland

Table 19 - EU Harmonised Consumer Price COICOP Division Indices - April 2024 Ireland

National Average Price

National Average Prices for selected goods and services for April 2024 are detailed in Table 20.

Looking at the National Average Prices of some staple items:

  • The national average price for bread (large (800g) white sliced pan) was down 5 cents in the year to April 2024, while the same size brown sliced pan reduced by 4 cents in the year.
  • Spaghetti per 500g increased by 1 cent in the year while the average price for 2.5kg of potatoes was up 61 cents.
  • Full fat milk per 2 litres decreased by 9 cents in the year while butter per lb fell by 15 cents and the average price of Irish cheddar per kg fell by 26 cents.
  • The national average price of a take-home 50cl can of lager at €2.38 was up 8 cents on average from April 2023 while a take-home 50cl can of cider at €2.69 was up 15 cents.
  • In April 2024, the national average price of a pint of stout in licensed premises was €5.64, up 14 cents in the year, while a pint of lager was €6.07, up 10 cents compared with April 2023.

National Average Price

National Average Prices for selected goods and services for April 2024 are detailed below

These prices are compared to the same product and service in April 2023. A full list of National Average Prices is detailed in Table 20.
Decrease
5c
now €1.64
White Sliced Pan (800g)
Increase
1c
now €1.50
Spaghetti (500g)
Increase
61c
now €4.00
Bag of Potatoes (2.5kg)
Decrease
9c
now €2.19
Milk - Full Fat (2L)
Decrease
26c
now €10.45
Irish Cheddar Cheese (kg)
Decrease
15c
now €3.72
Butter (lb/454g)
Table 20 - National Average Prices