The Consumer Price Index (CPI) rose by 8.9% between November 2021 and November 2022, down from an annual increase of 9.2% in the 12 months to October 2022.
This is the fourteenth straight month where the annual increase for the CPI has been at least 5.0%.
The divisions with the largest increases in the year to November were Housing, Water, Electricity, Gas & Other Fuels (+27.1%) and Food & Non-Alcoholic Beverages (+11.2%).
Education (-7.1%) and Miscellaneous Goods & Services (-0.2%) were the only divisions to show a decrease when compared with November 2021.
Consumer prices rose by 0.3% in the month between October 2022 and November 2022.
The divisions with the largest increases in the month were Clothing & Footwear (+1.9%) and Food & Non-Alcoholic Beverages (+0.7%) while the only divisions to show a decrease in the month were Alcoholic Beverages & Tobacco (-0.4%) and Education (-0.4%).
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 due to some items having different weights in the respective indices.
| CPI and HICP | |||||||
| CPI | HICP | ||||||
| % monthly change | % annual change | % monthly change | % annual change | ||||
| Jul 2022 | 0.4 | 9.1 | 0.4 | 9.6 | |||
| Aug 2022 | 0.2 | 8.7 | 0.2 | 9.0 | |||
| Sep 2022 | 0.0 | 8.2 | 0.0 | 8.6 | |||
| Oct 2022 | 1.6 | 9.2 | 1.5 | 9.4 | |||
| Nov 2022 | 0.3 | 8.9 | 0.2 | 9.0 | |||
| X-axis label | CPI | HICP |
|---|---|---|
| Nov 2021 | 5.3 | 5.4 |
| Dec 2021 | 5.5 | 5.7 |
| Jan 2022 | 5 | 5 |
| Feb 2022 | 5.6 | 5.7 |
| Mar 2022 | 6.7 | 6.9 |
| Apr 2022 | 7 | 7.3 |
| May 2022 | 7.8 | 8.3 |
| Jun 2022 | 9.1 | 9.6 |
| Jul 2022 | 9.1 | 9.6 |
| Aug 2022 | 8.7 | 9 |
| Sep 2022 | 8.2 | 8.6 |
| Oct 2022 | 9.2 | 9.4 |
| Nov 2022 | 8.9 | 9 |
Prices on average, as measured by the CPI, were 8.9% higher in November 2022 compared with November 2021.
The most notable changes in the year were increases in Housing, Water, Electricity, Gas & Other Fuels (+27.1%), Food & Non-Alcoholic Beverages (+11.2%), Alcoholic Beverages & Tobacco (+9.1%) and Transport (+7.9%). There were decreases in Education (-7.1%) and Miscellaneous Goods & Services (-0.2%).
Consumer Prices in November, as measured by the CPI, increased by 0.3% in the month. During November of last year, prices rose by 0.6% in the month. The most significant monthly price changes were increases in Clothing & Footwear (+1.9%) and Food & Non-Alcoholic Beverages (+0.7%). There were decreases in Alcoholic Beverages & Tobacco (-0.4%) and Education (-0.4%).
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 contribution to the CPI in the year were Housing, Water, Electricity, Gas & Other Fuels (+4.46%), Food & Non-Alcoholic Beverages (+1.28%), Restaurants & Hotels (+1.15%) and Transport (+1.09%).
The divisions which caused the largest downward contribution to the CPI in the year were Education (-0.13%) and Miscellaneous Goods & Services (-0.03%).
The main factors contributing to the annual change were as follows:
1Classification of Individual Consumption by Purpose Adapted to the Needs of Harmonised Indices of Consumer Prices (2000).
The divisions which caused the largest upward contribution to the CPI in the month were Housing, Water, Electricity, Gas & Other Fuels (+0.13%) and Food & Non-Alcoholic Beverages (+0.08%). The divisions which caused the largest downward contribution to the CPI in the month were Alcoholic Beverages & Tobacco (-0.02%) and Recreation & Culture (-0.01%).
The main factors contributing to the monthly change were as follows:
Tables 4 to 15 details all COICOP1 sub-indices of the CPI.
Table 2 and table 17 details selected consumer price index sub-indices. The sub index for Services rose by 8.6% in the year to November, while Goods increased by 9.4%. Services, excluding mortgage interest repayments, increased by 7.9% in the year since November 2021.
The CPI excluding tobacco increased by 0.3% in the month of November and rose by 9.0% in the year. The CPI excluding mortgage interest rose by 0.2% in the month and increased by 8.6% in the year.
Prices on average, as measured by the EU Harmonised Index of Consumer Prices (HICP), increased by 9.0% compared with November 2021.
Table 19 details the COICOP sub-indices for the HICP. The most notable changes in the year were increases in Housing, Water, Electricity, Gas & Other Fuels (+29.6%), Food and Non-Alcoholic Beverages (+11.2%), Alcoholic Beverages & Tobacco (+9.1%) and Transport (+8.1%). There was a decrease in Education (-7.2%).
The HICP increased by 0.2% in the month. This compares to an increase of 0.6% recorded in November of last year.
The most significant monthly price changes were increases in Clothing & Footwear (+1.8%) and Food & Non-Alcoholic Beverages (+0.8%). There were decreases in Education (-0.5%) and Alcoholic Beverages & Tobacco (-0.4%).
National Average Prices for selected goods and services for November 2022 are detailed in Table 20.
Looking at the National Average Prices of some staple items:
Statistician's Comment
The Central Statistics Office (CSO) has today (08 December 2022) published the Consumer Price Index November 2022.
Commenting on annual changes shown in the release, Anthony Dawson, Statistician in the Prices Division said: “The latest publication for the Consumer Price Index (CPI) shows that prices for consumer goods and services in November 2022 increased by 8.9% on average compared with November 2021, down from 9.2% in the 12 months to October 2022. Prices have been rising on an annual basis since April 2021, with annual inflation of 5.0% or more recorded in each month since October 2021.
Annual Changes
The most significant increases in the year were seen in Housing, Water, Electricity, Gas & Other Fuels which was up 27.1% and Food & Non-Alcoholic Beverages, which rose by 11.2%. Increased energy costs are reflected in the yearly increase of Housing, Water, Electricity, Gas & Other Fuels with electricity up 63.5%, gas up 88.7%, liquid fuels (home heating oil) up 57.1% and solid fuels up 46.8% in the year. The annual change in Food & Non-Alcoholic Beverages costs reflects a rise in prices across a range of products such as fresh whole milk (+32.7%), sugar (+24.8%), butter (+23.0%), eggs (+20.8%) and bread (+17.7%) compared with November 2021.
Education (-7.1%) and Miscellaneous Goods & Services (-0.2%) were the only divisions to show a decrease when compared with November 2021.
Monthly Changes
Consumer prices in November increased by 0.3% in the month. During November of last year, prices rose by 0.6% in the month. The most significant monthly price changes were increases in Clothing & Footwear (+1.9%) and Food & Non-Alcoholic Beverages (+0.7%). Food & Non-Alcoholic Beverages increased due to higher prices across a range of products such as such as meat, bread & cereals, milk, cheese & eggs and vegetables.
Alcoholic Beverages & Tobacco (-0.4%) and Education (-0.4%) were the only divisions to show a decrease when compared to October 2022.
It should be noted that these figures relate to the CPI. The flash estimate published on 30 November 2022 was related to the EU Harmonised Index of Consumer Prices (HICP)."
The National Average Prices for selected goods and services for November are also published today. The National Average Prices are compiled together with the CPI. Commenting on the National Average Prices, Anthony Dawson said: “The National Average Price of a number of items rose in November 2022. There were price increases for an 800g loaf of white/brown sliced pan (+28c), 2 litres of full fat milk (+55c), and a pound of butter (+77c) when compared with November 2021.” The comprehensive list of items included in the National Average Prices and their monthly prices are available at: https://data.cso.ie/table/CPM12.