Back to Top

 Skip navigation

Consumer Price Index July 2024

Consumer prices rose by 2.2% over the 12 months to July 2024

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

Key Findings

  • The Consumer Price Index (CPI) rose by 2.2% between July 2023 and July 2024. This 2.2% increase was the same level of inflation that was recorded in June 2024.

  • Excluding energy and unprocessed food, the CPI went up by 3.1% in the 12 months to July 2024. 

  • The divisions with the largest increases in the 12 months to July 2024 were Transport (+5.5%) and Restaurants & Hotels (+4.3%).

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

  • Consumer prices grew by 0.2% in the month between June 2024 and July 2024.

  • The divisions with the largest growth in the month were Recreation & Culture (+3.0%) and Transport (+1.9%).

  • The divisions with the largest declines in the month were Clothing & Footwear (-6.2%) and Miscellaneous Goods & Services (-0.3%).

Statistician's Comment

The Central Statistics Office (CSO) has today (08 August 2024) published the Consumer Price Index (CPI) July 2024.

Commenting on annual changes shown in the release, Anthony Dawson, Statistician in the Prices Division, said: “Today’s 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 

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.

It should be noted that these figures relate to the CPI. The flash estimate published on 30 July 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 July 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 July 2024 for a 2.5kg bag of potatoes (+66c), Irish cheddar cheese per kg (+10c), Spaghetti per 500g (+6c), and a pound of butter (+3c), while there were decreases in the price of an 800g loaf of white sliced pan (-3c), an 800g loaf of brown sliced pan (-2c), and two litres of full fat milk (-1c) when compared with July 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 difference between the CPI and HICP. This difference is primarily due to the fact 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
Mar 20240.5 2.9 0.3 1.7
Apr 20240.2 2.6 0.2 1.6
May 20240.5 2.6 0.6 2.0
Jun 20240.4 2.2 0.3 1.5
Jul 20240.2 2.2 0.2 1.5
X-axis labelCPIHICP
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
May 20242.62
Jun 20242.21.5
Jul 20242.21.5

Annual and Monthly Price Changes

Prices on average, as measured by the CPI, were 2.2% higher in July 2024 compared with July 2023.

The most notable changes in the year were increases in Transport (+5.5%), Restaurants & Hotels (+4.3%), Miscellaneous Goods & Services (+3.9%) and Alcoholic Beverages & Tobacco (+3.4%). The divisions to show a decrease were Clothing & Footwear (-4.9%), Furnishings, Household Equipment & Routine Household Maintenance (-1.0%) and Housing, Water, Electricity, Gas & Other Fuels (-0.3%).

Consumer Prices in July, as measured by the CPI, increased by 0.2% in the month. During July of last year, prices also rose by 0.2% in the month. The most significant monthly price changes were increases in Recreation & Culture (+3.0%) and Transport (+1.9%). The largest decreases were recorded in Clothing & Footwear (-6.2%) and Miscellaneous Goods & Services (-0.3%).

Table 1 - Consumer Price Index (All Items)

Table 2 - Consumer Price COICOP Division Indices - July 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 (+0.68 pp), Miscellaneous Goods & Services (+0.40 pp) and Food & Non-Alcoholic Beverages (+0.22 pp).

The divisions to cause a downward contribution to the CPI in the year were Clothing & Footwear (-0.29 pp), Furnishings, Household Equipment & Routine Household Maintenance (-0.05 pp) and Housing, Water, Electricity, Gas & Other Fuels (-0.03 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. This increase was partially offset by a reduction in the cost of hotel accommodation. 
  • Transport increased primarily due to higher prices for diesel, petrol, airfares, motor cars and the maintenance & repair of personal transport equipment. 
  • Miscellaneous Goods & Services rose mainly due to higher health and motor insurance premiums and an increase in prices for hairdressing salons & personal grooming establishments. This increase was partially offset by lower prices for jewellery, clocks & watches and articles & products for personal care. 
  • Food & Non-Alcoholic Beverages increased due to higher prices across a range of products such as vegetables, sugar, chocolate & confectionery, mineral waters, soft drinks, fruit and vegetables juices, other bakery products and cereals. 
  • Clothing & Footwear decreased due to sales. 
  • Furnishings, Household Equipment & Routine Household Maintenance fell mainly due to lower prices for household textiles and furniture & furnishings. 
  • Housing, Water, Electricity, Gas & Other Fuels decreased due to a reduction in the price of electricity, gas and coal. This decrease was partially offset by an increase in the cost of mortgage interest repayments, rents and liquid fuels (home heating oil).  

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 - July 2024
Monthly Change

The divisions which caused the largest upward percentage point contributions to the CPI in the month were Transport (+0.24 pp) and Recreation & Culture (+0.21 pp). The divisions which caused the largest downward percentage point contributions to the CPI in the month were Clothing & Footwear (-0.31 pp) and Miscellaneous Goods & Services (-0.04 pp).

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

  • Transport rose mainly due to higher prices for airfares.
  • Recreation & Culture increased primarily due to a rise in the cost of package holidays.
  • Clothing & Footwear decreased due to sales.
  • Miscellaneous Goods & Services fell mainly due to lower prices for jewellery, clocks & watches. 
Table 3 - Contributions to the change in the All Items CPI - July 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 3.1% in the year to July, while Goods increased by 0.8%. Services, excluding mortgage interest repayments, increased by 2.3% in the year since July 2023.

The CPI excluding tobacco increased by 0.2% in the month of July and rose by 2.2% in the year. The CPI excluding mortgage interest rose by 0.1% in the month and increased by 1.8% 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 - July 2024

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

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

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

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

Table 9 - COICOP Division 06 Health - July 2024

Table 10 - COICOP Division 07 Transport - July 2024

Table 11 - COICOP Division 08 Communications - July 2024

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

Table 13 - COICOP Division 10 Education - July 2024

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

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

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

Table 17 - Consumer Price Index Subindices - July 2024

Harmonised Index of Consumer Prices

Prices on average, as measured by the EU Harmonised Index of Consumer Prices (HICP), increased by 1.5% compared with July 2023.

Table 19 details the COICOP sub-indices for the HICP. The most notable changes in the year were increases in Transport (+5.9%), Restaurants & Hotels (+4.3%), Alcoholic Beverages & Tobacco (+3.4%) and Recreation & Culture (+2.6%). There were decreases in Clothing & Footwear (-4.9%), Housing, Water, Electricity, Gas & Other Fuels (-3.5%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.9%).

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

The most significant monthly price changes were increases in Recreation & Culture (+3.0%) and Transport (+2.0%). There were decreases in Clothing & Footwear (-6.1%) and Miscellaneous Goods & Services (-0.7%).

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

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

National Average Price

National Average Prices for selected goods and services for July 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 3 cents in the year to July 2024, while the same size brown sliced pan reduced by 2 cents in the year.
  • Spaghetti per 500g increased by 6 cents in the year while the average price for 2.5kg of potatoes was up 66 cents.
  • Full fat milk per 2 litres decreased by 1 cent in the year while butter per lb rose by 3 cents and the average price of Irish cheddar per kg increased by 10 cents.
  • The national average price of a take-home 50cl can of lager at €2.42 was up 10 cents on average from July 2023, while a take-home 50cl can of cider at €2.66 was up 8 cents.
  • In July 2024, the national average price of a pint of stout in licensed premises was €5.81, up 29 cents in the year, while a pint of lager was €6.23, up 25 cents compared with July 2023.

National Average Price

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

These prices are compared to the same product and service in July 2023. A full list of National Average Prices is detailed in Table 20.
Decrease
3c
now €1.62
White Sliced Pan (800g)
Increase
6c
now €1.52
Spaghetti (500g)
Increase
66c
now €4.09
Bag of Potatoes (2.5kg)
Decrease
1c
now €2.19
Milk - Full Fat (2L)
Increase
10c
now €10.49
Irish Cheddar Cheese (kg)
Increase
3c
now €3.79
Butter (lb/454g)
Table 20 - National Average Prices

Interactive Visualisation App

To calculate the percentage change in the CPI between two periods of time

Why you can Trust the CSO

Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.