Steady inflation rate but higher food prices in September – CSO Report

The food prices index went up some 0.7 percent, while the overall inflation rate remained steady at 0.4 percent for the month of September.

That’s according to the latest Consumer Price Index Report issued today by the Central Statistical Office.

According to the report, the Index for Food and Non-Alcoholic Beverages increased from 149.2 in August 2024 to 150.2 in September 2024, reflecting an increase of 0.7%.

“This was the result of increases in the prices of fresh whole chicken, cucumbers, carrots, parboiled rice, oranges, Irish potatoes, bodi, cabbage, ripe bananas and cheddar cheese,” the CSO report explained.

The report also noted, however, that price drops in some other foods softened the full impact of these price increases, namely:

“…the general decreases in the prices of ochroes, onions, white flour, hot peppers, pumpkin, garlic, green sweet peppers, chocolate malt beverages eggs and eddoes.”

When compared with August 2024, the September data showed increases in the sub-indices for Alcoholic Beverages and Tobacco of 0.3 %, and for Health of 0.2%. There also was a decrease in the sub-index for Clothing and Footwear of 0.2%, while all other sections remained unchanged.

The report also revealed that the All Items Index calculated from the prices collected for the month of September 2024 was 124.1—an increase of 0.2% above the All Items Index for August 2024.

And the CSO’s report confirmed that the Inflation Rate for September 2024 was 0.4%.

“This represents no change from the previous period (August 2024/August 2023),” the CSO said. “The Inflation Rate for the comparative period (September 2023/September 2022) was 3.9%.”

The Inflation Rate measures the percentage change in the All Items Index for the month of September 2024 over September 2023.

The post Steady inflation rate but higher food prices in September – CSO Report first appeared on CNC3.