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Consumer Price Index January 2024

Key Findings

Consumer prices rose by 4.1% over the 12 months to January 2024

Online ISSN: 2009-5767

CSO statistical publication, 15 February 2024, 11am

Key Findings

The Consumer Price Index (CPI) rose by 4.1% between January 2023 and January 2024, down from an annual increase of 4.6% in the 12 months to December 2023.
This is only the third time since September 2021 that the annual growth in the CPI has been below 5% while also being the third consecutive month where the inflation rate was lower than 5%.
Excluding energy and unprocessed food, the CPI rose by 5.3% in the 12 months to January 2024.
The divisions with the largest increases in the 12 months to January 2024 were Recreation & Culture (+9.3%) and Restaurants & Hotels (+7.2%).
The only division to record a decline when compared to January 2023 was Clothing & Footwear (-1.3%).
Consumer prices fell by 1.3% in the month between December 2023 and January 2024.
The divisions with the largest decreases in the month were Clothing & Footwear (-10.1%) and Transport (-4.1%).
Alcoholic Beverages & Tobacco (+2.4%) was the only division that rose when compared with December 2023.

Statistician's Comment

The Central Statistics Office (CSO) has today (15 February 2024) published the Consumer Price Index (CPI) January 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 January 2024 rose by 4.1% on average when compared with January 2023. This is only the third time since September 2021 that the annual growth in the CPI was below 5%, while also being the third consecutive month where the inflation rate was lower than 5%.

It is worth noting that today’s release uses the new baseline period of December 2023=100, as will all CPI releases until the next rebase. The items in the national basket of goods and services have also been updated as have the weights applied to each item. Further information about these changes is available in the Methodology Section of this release, as well as an accompanying Press Release. An FAQ document is also available.

Annual Changes

The most significant growth in the 12 months to January 2024 were seen in Recreation & Culture (+9.3%) and Restaurants & Hotels (+7.2%). The annual change in Recreation & Culture costs reflects a rise in prices for package holidays (+41.8%). Clothing & Footwear was the only division to show a decrease (-1.3%) when compared with January 2023.

Monthly Changes

Consumer prices in January 2024 fell by 1.3% in the month. During January 2023, prices were down by 0.8% in the month. In January 2024, the most significant monthly price changes were decreases in Clothing & Footwear (-10.1%) and Transport (-4.1%). Clothing & Footwear fell due to sales.

Alcoholic Beverages & Tobacco (+2.4%) was the only division to show an increase when compared with December 2023.

It should be noted that these figures relate to the CPI. The flash estimate published on 31 January 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 January 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 January 2024 for a 2.5kg Bag of Potatoes (+38c) and Spaghetti per 500g (+12c), while there were decreases in the price of two litres of full fat milk (-8c) and a pound of butter (-7c) when compared with January 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.

Change in Methodology for House Insurance Prices in the Consumer Price Index

Soundbyte

This is an audio file with a 26-second quote from CSO statistician with the Prices Division, Anthony Dawson, about the updating of the basket of goods and services for the CPI.
Media outlets have permission to use the clip as long as they credit the CSO.

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
Sep 2023	0.1	6.4	0.1	5.0
Oct 2023	0.3	5.1	0.2	3.6
Nov 2023	-0.8	3.9	-0.9	2.5
Dec 2023	0.5	4.6	0.4	3.2
Jan 2024	-1.3	4.1	-1.4	2.7

Open in Excel: Consumer Price Index January 2024 Headline Table (XLS 33KB)

X-axis label	CPI	HICP
Jan 2023	7.8	7.5
Feb 2023	8.5	8.1
Mar 2023	7.7	7
Apr 2023	7.2	6.3
May 2023	6.6	5.4
Jun 2023	6.1	4.8
Jul 2023	5.8	4.6
Aug 2023	6.3	4.9
Sep 2023	6.4	5
Oct 2023	5.1	3.6
Nov 2023	3.9	2.5
Dec 2023	4.6	3.2
Jan 2024	4.1	2.7

Annual and Monthly Price Changes

Prices on average, as measured by the CPI, were 4.1% higher in January 2024 compared with January 2023.

The most notable changes in the year were increases in Recreation & Culture (+9.3%), Restaurants & Hotels (+7.2%), Alcoholic Beverages & Tobacco (+4.7%) and Food & Non-Alcoholic Beverages (+4.6%). There was a decrease in Clothing & Footwear (-1.3%).

Consumer Prices in January, as measured by the CPI, decreased by 1.3% in the month. During January of last year, prices fell by 0.8% in the month. The most significant monthly price changes were decreases in Clothing & Footwear (-10.1%), Transport (-4.1%) and Recreation & Culture (-2.6%). The only division to show an increase was Alcoholic Beverages & Tobacco (+2.4%).

Table 1 - Consumer Price Index (All Items)

Table 1 Consumer Price Index (All Items)
Period		Consumer Price Index (CPI)		Percentage changes
Period		Dec. 2023=100	Dec. 2016=100	1 month	3 months	12 months
2017	Year	83.1	100.7			0.4
2018	Year	83.5	101.2			0.5
2019	Year	84.3	102.1			0.9
2020	Year	84.0	101.8			-0.3
2021	Year	86.0	104.2			2.4
2022	Year	92.7	112.3			7.8
2023	Year	98.6	119.4			6.3

2021	January	83.8	101.5	0.1	0.7	-0.2
	February	84.1	101.9	0.4	0.8	-0.4
	March	84.8	102.7	0.8	1.3	0.0
	April	85.3	103.4	0.7	1.9	1.1
	May	85.5	103.5	0.1	1.6	1.7
	June	85.6	103.7	0.2	1.0	1.6
	July	85.9	104.1	0.4	0.7	2.2
	August	86.5	104.7	0.6	1.2	2.8
	September	86.8	105.2	0.5	1.4	3.7
	October	87.4	105.9	0.7	1.7	5.1
	November	87.9	106.5	0.6	1.7	5.3
	December	88.4	107.0	0.5	1.7	5.5

2022	January	88.0	106.6	-0.4	0.7	5.0
	February	88.8	107.6	0.9	1.0	5.6
	March	90.5	109.6	1.9	2.4	6.7
	April	91.3	110.6	0.9	3.8	7.0
	May	92.2	111.6	0.9	3.7	7.8
	June	93.4	113.1	1.3	3.2	9.1
	July	93.8	113.6	0.4	2.7	9.1
	August	93.9	113.8	0.2	2.0	8.7
	September	94.0	113.8	0.0	0.6	8.2
	October	95.5	115.6	1.6	1.8	9.2
	November	95.8	116.0	0.3	1.9	8.9
	December	95.6	115.8	-0.2	1.8	8.2

2023	January	94.8	114.9	-0.8	-0.6	7.8
	February	96.4	116.7	1.6	0.6	8.5
	March	97.4	118.0	1.1	1.9	7.7
	April	97.9	118.6	0.5	3.2	7.2
	May	98.3	119.0	0.3	2.0	6.6
	June	99.1	120.0	0.8	1.7	6.1
	July	99.3	120.2	0.2	1.3	5.8
	August	99.9	121.0	0.7	1.7	6.3
	September	100.0	121.1	0.1	0.9	6.4
	October	100.3	121.5	0.3	1.1	5.1
	November	99.5	120.5	-0.8	-0.4	3.9
	December	100.0	121.1	0.5	0.0	4.6

2024	January	98.7	119.6	-1.3	-1.6	4.1

Open in Excel: Consumer Price Index January 2024 Table 1 (XLS 52KB)

Visit Table CPM02 on PxStat

Table 2 - Consumer Price COICOP Division Indices - January 2024

Table 2 Consumer Price COICOP Division Indices - January 2024
COICOP Division			Consumer Price Index (CPI)		Percentage changes
		Weights
		2024	Dec. 2023=100	Dec. 2016=100	1 month	3 months	12 months
01	Food and Non-Alcoholic Beverages	9.942	99.8	113.3	-0.2	0.2	4.6
02	Alcoholic Beverages and Tobacco	4.740	102.4	130.8	2.4	2.0	4.7
03	Clothing and Footwear	5.442	89.9	84.8	-10.1	-8.6	-1.3
04	Housing, Water, Electricity, Gas and Other Fuels	16.164	100.0	162.7	0.0	-1.8	4.3
05	Furnishings, Household Equipment and Routine Household Maintenance	5.462	98.8	92.2	-1.2	-0.6	0.2
06	Health	5.389	100.0	112.3	0.0	0.5	2.8
07	Transport	12.191	95.9	119.5	-4.1	-4.8	2.1
08	Communications	2.747	100.0	92.3	0.0	-0.3	1.3
09	Recreation and Culture	6.832	97.4	112.8	-2.6	-2.0	9.3
10	Education	1.219	100.0	102.2	0.0	0.0	2.0
11	Restaurants and Hotels	19.558	99.6	129.7	-0.4	-0.8	7.2
12	Miscellaneous Goods and Services	10.316	100.0	99.9	0.0	0.1	3.7
	ALL ITEMS	100.000	98.7	119.6	-1.3	-1.6	4.1
	Of which:
	Goods	39.844	98.5	108.0	-1.5	-2.2	1.5
	Services	60.156	98.9	128.5	-1.1	-1.1	6.1
	Energy Products	9.504	99.2	164.4	-0.8	-9.2	-7.1
	Utilities and Local Charges	4.961	100.0	191.4	0.0	-9.3	-13.2
	Alcohol	5.930	101.9	122.8	1.9	1.4	5.4
	Tobacco	2.064	100.0	147.1	0.0	1.6	6.2
	Mortgage Interest	2.056	100.8	183.6	0.8	3.8	31.8
	Services excluding Mortgage Interest	58.100	98.8	125.6	-1.2	-1.5	4.4
Notes: See Background Notes for definition of COICOP divisions, goods, services and utilities and local charges.
Restaurants and Hotels (COICOP 11) includes alcoholic beverages consumed on licensed premises.
Alcohol constitutes part of COICOP 02 (off-licence sales) and part of COICOP 11 (alcohol consumed on licensed premises) giving a combined
index for alcohol.

Open in Excel: Consumer Price Index January 2024 Table 2 (XLS 44KB)

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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 (+1.12 pp), Housing, Water, Electricity, Gas & Other Fuels (+0.80 pp), Recreation & Culture (+0.65 pp) and Food & Non-Alcoholic Beverages (+0.49 pp).

The only division to cause a downward contribution to the CPI in the year was Clothing & Footwear (-0.12 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.
Housing, Water, Electricity, Gas & Other Fuels increased primarily due to a rise in the cost of mortgage interest repayments, rents and services for the maintenance & repair of the dwelling. This increase was partially offset by a reduction in prices for electricity, gas, liquid fuels (home heating oil) and coal.
Recreation & Culture rose mainly due to higher prices for package holidays, participation in recreational & sporting services, cultural services and products for pets. This increase was partially offset by a reduction in costs associated with educational textbooks.
Food & Non-Alcoholic Beverages increased due to higher prices across a range of products such as vegetables, sugar, jam, honey, chocolate & confectionery, bread & cereals, meat and mineral waters, soft drinks, fruit & vegetable juices.
Clothing & Footwear decreased mainly due to sales.

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

Monthly Change

The divisions which caused the largest downward percentage point contributions to the CPI in the month were Clothing & Footwear (-0.55 pp) and Transport (-0.50 pp). The only division to cause an upward percentage point contribution to the CPI in the month was Alcoholic Beverages & Tobacco (+0.11 pp).

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

Clothing & Footwear decreased due to sales.
Transport fell mainly due to lower prices for airfares, petrol and diesel. This decrease was partially offset by higher toll and parking charges.
Alcoholic Beverages & Tobacco rose due to higher prices for alcoholic beverages sold in supermarkets and off licences.

Table 3 - Contributions to the change in the All Items CPI - January 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 6.1% in the year to January, while Goods increased by 1.5%. Services, excluding mortgage interest repayments, increased by 4.4% in the year since January 2023.

The CPI excluding tobacco decreased by 1.3% in the month of January and rose by 4.0% in the year. The CPI excluding mortgage interest fell by 1.3% in the month and increased by 3.1% in the year.

¹_{Classification 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 - January 2024

Table 4 COICOP Division 01 Food and Non-Alcoholic Beverages - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
01.1 Food	8.6613	99.8	-0.2	4.3
01.1.1 Bread & Cereals	1.6262	98.8	-1.2	4.1
Rice	0.0720	98.1	-1.9	9.7
Flours & other cereals	0.0358	100.5	0.5	8.6
Bread	0.5078	99.8	-0.2	0.8
Other bakery products	0.5545	100.2	0.2	7.1
Pizza & quiche	0.1017	98.1	-1.9	1.9
Pasta products & couscous	0.0812	97.4	-2.6	5.2
Breakfast cereals	0.1811	97.1	-2.9	2.2
Other cereal products	0.0922	90.8	-9.2	6.7
01.1.2 Meat	2.2144	99.5	-0.5	2.2
Beef & veal	0.3601	98.9	-1.1	2.6
Pork	0.1286	98.7	-1.3	3.9
Lamb & goat	0.1048	100.1	0.1	-0.3
Poultry	0.5233	99.4	-0.6	1.0
Edible offal	0.0042	100.9	0.9	6.2
Dried, salted or smoked meat	0.3946	98.8	-1.2	0.9
Other meat preparations	0.6988	100.3	0.3	3.5
01.1.3 Fish	0.3270	100.1	0.1	4.3
Fresh or chilled fish	0.1621	99.9	-0.1	5.4
Frozen fish	0.0229	102.3	2.3	20.2
Fresh or chilled seafood	0.0167	100.6	0.6	-4.6
Dried, smoked or salted fish & seafood	0.0304	100.1	0.1	2.0
Other preserved or processed fish & seafood-based preparations	0.0950	99.7	-0.3	1.4
01.1.4 Milk, cheese & eggs	0.8785	98.8	-1.2	-0.5
Fresh whole milk	0.1849	100.1	0.1	-3.5
Fresh low fat milk	0.1100	100.0	0.0	-2.6
Yoghurt	0.1483	98.0	-2.0	2.6
Cheese & curd	0.2004	98.3	-1.7	1.0
Other milk products	0.0790	99.6	-0.4	-0.8
Eggs	0.1143	100.1	0.1	2.2
01.1.5 Oils & fats	0.2704	98.7	-1.3	0.8
Butter	0.1314	99.5	-0.5	-1.9
Margarine & other vegetable fats	0.0627	95.9	-4.1	-0.8
Olive oil	0.0308	100.8	0.8	16.0
Other edible oils	0.0455	98.9	-1.1	2.3
01.1.6 Fruit	0.7202	100.0	0.0	3.3
Fresh or chilled fruit	0.5879	99.8	-0.2	3.4
Dried fruit & nuts	0.1160	100.6	0.6	2.0
Preserved fruit & fruit-based products	0.0164	104.0	4.0	6.4
01.1.7 Vegetables	1.3884	101.2	1.2	9.5
Fresh or chilled vegetables other than potatoes & other tubers	0.6050	101.6	1.6	11.0
Frozen vegetables other than potatoes & other tubers	0.0350	102.4	2.4	7.2
Dried vegetables, other preserved or processed vegetables	0.2590	100.3	0.3	7.0
Potatoes	0.3167	100.6	0.6	12.5
Crisps	0.1583	102.9	2.9	4.5
01.1.8 Sugar, jam, honey, chocolate & confectionery	0.8014	101.1	1.1	8.5
Sugar	0.0403	101.0	1.0	23.5
Jams, marmalades & honey	0.0754	100.8	0.8	0.2
Chocolate	0.3838	101.8	1.8	9.1
Confectionery products	0.1562	99.6	-0.4	11.4
Edible ices & ice cream	0.1240	101.2	1.2	4.5
Artificial sugar substitutes	0.0218	99.0	-1.0	4.0
01.1.9 Food products n.e.c.	0.4348	100.9	0.9	10.2
Sauces & condiments	0.2016	101.6	1.6	13.1
Salt, spices & culinary herbs	0.0416	99.9	-0.1	10.5
Baby food	0.0286	100.0	0.0	6.0
Ready-made meals	0.0783	100.0	0.0	5.0
Other food products n.e.c.	0.0846	100.9	0.9	9.6
01.2 Non-alcoholic beverages	1.2802	99.5	-0.5	6.8
01.2.1 Coffee, tea & cocoa	0.3070	100.6	0.6	7.0
Coffee	0.1616	100.1	0.1	6.6
Tea	0.1315	101.1	1.1	7.1
Cocoa & powdered chocolate	0.0139	101.1	1.1	11.2
01.2.2 Mineral waters, soft drinks, fruit & vegetable juices	0.9733	99.2	-0.8	6.8
Mineral or spring waters	0.2274	99.7	-0.3	5.5
Soft drinks	0.3918	101.4	1.4	7.2
Fruit & vegetable juices	0.3541	96.5	-3.5	7.1
Total	9.9415	99.8	-0.2	4.6

Open in Excel: Consumer Price Index January 2024 Table 4 (XLS 88KB)

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

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

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

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

Table 9 - COICOP Division 06 Health - January 2024

Table 10 - COICOP Division 07 Transport - January 2024

Table 11 - COICOP Division 08 Communications - January 2024

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

Table 12 COICOP Division 09 Recreation and Culture - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
09.1 Audio-visual, photographic & information processing equipment	0.1149	96.6	-3.4	-1.7
09.1.1 Equipment for the reception, recording & reproduction of sound & pictures	0.0400	99.0	-1.0	-2.5
09.1.3 Information processing equipment	0.0501	95.5	-4.5	-2.1
09.1.4 Recording media	0.0224	94.5	-5.5	1.9
09.1.5 Repair of audio-visual, photographic & information processing equipment	0.0023	100.0	0.0	0.6
09.2 Other major durables for recreation & culture	0.0279	99.8	-0.2	-1.6
09.3 Other recreational items & equipment, gardens & pets	1.2373	101.0	1.0	2.9
09.3.1 Games, toys & hobbies	0.3880	101.8	1.8	-4.1
09.3.2 Equipment for sport, camping & open-air recreation	0.1632	99.7	-0.3	1.4
09.3.3 Gardens, plants & flowers	0.3545	101.2	1.2	2.5
09.3.4/5 Pets & related products including veterinary & other services for pets	0.3317	100.7	0.7	9.1
09.4 Recreational & cultural services	3.4079	100.0	0.0	4.6
09.4.1 Recreational & sporting services	1.8736	100.0	0.0	6.3
Sports admittance	0.1214	100.0	0.0	4.8
Sports participation	0.3574	100.0	0.0	7.3
Club & society subscriptions	1.3522	100.0	0.0	5.3
09.4.2 Cultural services	1.5343	100.0	0.0	2.8
Cinema	0.0462	100.9	0.9	-1.9
Cultural admittance	0.1857	100.0	0.0	14.5
Television services	1.2887	100.0	0.0	1.9
Other entertainment	0.0137	100.0	0.0	4.5
09.5 Newspapers, books & stationery	0.6753	100.8	0.8	-0.3
09.5.1 Books	0.1280	100.9	0.9	-14.3
09.5.2 Newspapers & periodicals	0.2823	101.2	1.2	5.1
09.5.3/4 Miscellaneous printed matter and stationery & drawing materials	0.2650	100.2	0.2	1.6
09.6 Package holidays	1.3683	86.1	-13.9	41.8
Total	6.8315	97.4	-2.6	9.3

Open in Excel: Consumer Price Index January 2024 Table 12 (XLS 72KB)

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Table 13 - COICOP Division 10 Education - January 2024

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

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

Table 15 COICOP Division 12 Miscellaneous Goods and Services - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
12.1 Personal care	3.3534	100.0	0.0	3.4
12.1.1 Hairdressing salons & personal grooming establishments	1.1877	100.3	0.3	6.0
Hairdressing	0.8957	100.4	0.4	6.8
Health & beauty treatments	0.2920	100.0	0.0	3.7
12.1.2 Electric appliances for personal care	0.0413	103.5	3.5	-0.8
12.1.3 Other appliances, articles & products for personal care	2.1245	99.8	-0.2	2.4
Hygiene products	0.6285	100.2	0.2	4.7
Hair products	0.2443	98.7	-1.3	-1.3
Cosmetics & skincare products	0.8320	99.3	-0.7	2.0
Toilet accessories	0.4153	100.5	0.5	2.0
12.3 Personal effects n.e.c.	0.8934	98.9	-1.1	-9.2
12.3.1 Jewellery, clocks & watches	0.4976	100.8	0.8	-13.7
12.3.2 Other personal effects	0.3958	96.6	-3.4	-4.5
12.4 Social protection	0.8521	100.2	0.2	0.9
Childcare	0.7194	100.0	0.0	0.0
Other social protection	0.1327	101.3	1.3	6.1
12.5 Insurance	3.7303	100.2	0.2	8.8
12.5.2 Insurance connected with the dwelling	0.2321	100.7	0.7	10.5
12.5.3 Insurance connected with health	2.5477	100.0	0.0	10.4
12.5.4 Insurance connected with transport	0.9505	100.7	0.7	3.5
Motor insurance	0.9218	100.7	0.7	3.4
Motor cycle insurance	0.0081	99.1	-0.9	2.7
Motor car insurance	0.9137	100.8	0.8	3.5
Travel insurance	0.0287	100.0	0.0	7.3
12.6 Financial services n.e.c.	0.4080	99.9	-0.1	0.0
12.7 Other services n.e.c.	1.0788	100.0	0.0	1.6
Total	10.3160	100.0	0.0	3.7

Open in Excel: Consumer Price Index January 2024 Table 15 (XLS 72KB)

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

Table 17 - Consumer Price Index Subindices - January 2024

Harmonised Index of Consumer Prices

Prices on average, as measured by the EU Harmonised Index of Consumer Prices (HICP), increased by 2.7% compared with January 2023.

Table 19 details the COICOP sub-indices for the HICP. The most notable changes in the year were increases in Recreation & Culture (+9.5%), Restaurants & Hotels (+7.2%), Alcoholic Beverages & Tobacco (+4.7%) and Food & Non-Alcoholic Beverages (+4.6%). There were decreases in Housing, Water, Electricity, Gas & Other Fuels (-1.9%), Clothing & Footwear (-1.3%) and Health (-0.4%).

The HICP decreased by 1.4% in the month. This compares to a decrease of 1.0% recorded in January of last year.

The most significant monthly price changes were decreases in Clothing & Footwear (-10.1%), Transport (-4.5%), Recreation & Culture (-2.6%) and Furnishings, Household Equipment & Routine Household Maintenance (-1.1%). The only division that showed an increase was Alcoholic Beverages & Tobacco (+2.3%).

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

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

National Average Price

National Average Prices for selected goods and services for January 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 January 2024, while the same size brown sliced pan reduced by 1 cent in the year.
Spaghetti per 500g increased by 12 cents in the year while the average price for 2.5kg of potatoes was up 38 cents.
Full fat milk per 2 litres decreased by 8 cents in the year while butter per lb fell by 7 cents and there was no change in the price of Irish cheddar per kg in the year.
The national average price of a take-home 50cl can of lager at €2.34 was up 15 cents on average from January 2023 while a take-home 50cl can of cider at €2.61 was up 11 cents.
In January 2024, the national average price of a pint of stout in licensed premises was €5.62, up 41 cents in the year, while a pint of lager was €6.06, up 31 cents compared with January 2023.

National Average Price

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

These prices are compared to the same product and service in January 2023. A full list of National Average Prices is detailed in Table 20.

Decrease

now €1.64

White Sliced Pan (800g)

Increase

12c

now €1.44

Spaghetti (500g)

Increase

38c

now €3.78

Bag of Potatoes (2.5kg)

Decrease

now €2.18

Milk - Full Fat (2L)

No change

now €10.47

Irish Cheddar Cheese (kg)

Decrease

now €3.76

Butter (lb/454g)

Go to Rebase December 2023=100

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Consumer Price Index January 2024

Key Findings

Consumer prices rose by 4.1% over the 12 months to January 2024

Key Findings

Statistician's Comment

Annual Changes

Monthly Changes

National Average Prices

Soundbyte

Headline Table and Graph

Annual and Monthly Price Changes

Contributions to the Overall CPI

Annual Change

Monthly Change

CPI sub-indices

Harmonised Index of Consumer Prices

National Average Price

National Average Price

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

These prices are compared to the same product and service in January 2023. A full list of National Average Prices is detailed in Table 20.

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Table 3 Contributions to the change in the All Items CPI - January 2024
COICOP Division		Percentage contributions
COICOP Division		1 month	3 months	12 months
01	Food and Non-Alcoholic Beverages	-0.02	0.02	0.49
02	Alcoholic Beverages and Tobacco	0.11	0.09	0.24
03	Clothing and Footwear	-0.55	-0.47	-0.12
04	Housing, Water, Electricity, Gas and Other Fuels	-0.01	-0.34	0.80
05	Furnishings, Household Equipment and Routine Household Maintenance	-0.06	-0.03	0.01
06	Health	0.00	0.01	0.09
07	Transport	-0.50	-0.59	0.31
08	Communications	0.00	-0.01	0.05
09	Recreation and Culture	-0.18	-0.13	0.65
10	Education	0.00	0.00	0.03
11	Restaurants and Hotels	-0.07	-0.14	1.12
12	Miscellaneous Goods and Services	0.00	0.01	0.42
	All Items % change	-1.3	-1.6	4.1
	Goods	-0.60	-0.88	0.71
	Services	-0.68	-0.69	3.38
	Energy Products	-0.07	-0.90	-0.71
	Tobacco	0.00	0.04	0.15
	Mortgage Interest	0.02	0.14	1.07
Notes: For the percentage contributions, the sum of the 2-digit COICOP divisions may not equal the All Items %
change due to rounding differences.

Table 5 COICOP Division 02 Alcoholic Beverages and Tobacco - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
02.1 Alcoholic Beverages	2.6760	104.2	4.2	3.6
02.1.1 Spirits	0.4743	106.7	6.7	3.8
02.1.2 Wine	1.4273	104.6	4.6	1.1
02.1.3 Beer	0.7744	101.9	1.9	6.1
02.2 Tobacco	2.0638	100.0	0.0	6.2
Cigarettes	1.8434	100.0	0.0	6.2
Other tobacco products	0.2204	100.0	0.0	5.7
Total	4.7398	102.4	2.4	4.7

Table 6 COICOP Division 03 Clothing and Footwear - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
03.1 Clothing	4.3495	89.7	-10.3	-1.1
03.1.2 Garments	4.0069	89.0	-11.0	-1.5
03.1.3 Other articles of clothing & clothing accessories	0.2453	97.6	-2.4	5.3
03.1.4 Cleaning, repair & hire of clothing	0.0973	100.8	0.8	4.0
Dry cleaning & laundry	0.0874	100.9	0.9	4.1
Dress hire & repair of clothing	0.0099	100.0	0.0	2.7
03.2 Footwear	1.0925	90.8	-9.2	-2.3
03.2.1 Shoes & other footwear	1.0870	90.8	-9.2	-2.3
03.2.2 Repair & hire of footwear	0.0056	100.0	0.0	0.0
Total	5.4420	89.9	-10.1	-1.3

Table 7 COICOP Division 04 Housing, Water, Electricity, Gas and Other Fuels - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
04.1/04.2 Actual rentals for housing & mortgage interest	8.8856	100.2	0.2	13.9
04.1.1 Actual rentals paid by tenants (Rents)	6.8298	100.1	0.1	6.3
Private Rents	5.4354	100.1	0.1	6.0
Local Authority Rents	1.3944	100.0	0.0	7.8
04.2.1 Mortgage Interest	2.0558	100.8	0.8	31.8
04.3 Maintenance & repair of the dwelling	0.8189	99.8	-0.2	3.4
04.3.1 Materials for the maintenance & repair of the dwelling	0.2248	99.4	-0.6	0.1
04.3.2 Services for the maintenance & repair of the dwelling	0.5941	100.0	0.0	5.7
04.4 Water supply & miscellaneous services relating to the dwelling	0.2156	100.0	0.0	3.0
04.5 Electricity, gas & other fuels	6.2439	99.6	-0.4	-12.6
04.5.1 Electricity	3.5620	100.0	0.0	-15.2
04.5.2 Gas	1.3306	100.0	0.0	-12.0
Natural gas	1.2716	100.0	0.0	-12.9
Bottled gas	0.0590	100.0	0.0	-0.4
04.5.3 Liquid fuels (Home Heating Oil)	0.8584	98.4	-1.6	-10.2
04.5.4 Solid fuels	0.4929	97.7	-2.3	-5.2
Total	16.1640	100.0	0.0	4.3

Table 8 COICOP Division 05 Furnishings, Household Equipment and Routine Household Maintenance - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
05.1 Furniture & furnishings, carpets & other floor coverings	1.7806	97.7	-2.3	-3.4
05.1.1 Furniture & furnishings	1.6709	97.7	-2.3	-3.5
05.1.2 Carpets & other floor coverings	0.1097	97.6	-2.4	-1.8
05.2 Household textiles	0.5069	96.5	-3.5	-4.8
05.3 Household appliances	0.5802	99.7	-0.3	2.2
05.3.1 Major household appliances whether electric or not	0.4351	99.5	-0.5	2.1
05.3.2 Small electric household appliances	0.1090	100.5	0.5	2.9
05.3.3 Repair of household appliances	0.0361	100.0	0.0	1.4
05.4 Glassware, tableware & household utensils	0.2308	98.9	-1.1	-0.6
05.5 Tools & equipment for house & garden	0.2986	100.0	0.0	2.6
05.5.1 Major tools & equipment	0.0987	99.9	-0.1	-0.4
05.5.2 Small tools & miscellaneous accessories	0.2000	100.1	0.1	4.1
05.6 Goods & services for routine household maintenance	2.0653	99.9	-0.1	3.6
05.6.1 Non-durable household goods	1.1236	99.9	-0.1	3.4
05.6.2 Domestic services & household services	0.9417	100.0	0.0	4.0
Total	5.4624	98.8	-1.2	0.2

Table 9 COICOP Division 06 Health - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
06.1 Medical products, appliances & equipment	0.9575	100.1	0.1	3.3
06.1.1 Pharmaceutical products	0.7937	100.0	0.0	3.4
Prescribed drugs	0.4600	100.0	0.0	2.1
Other medicines	0.3336	100.1	0.1	5.7
06.1.2 Other medical products	0.0205	101.5	1.5	3.5
06.1.3 Therapeutic appliances & equipment	0.1432	100.1	0.1	2.0
06.2 Out-patient services	1.7916	99.9	-0.1	3.3
06.2.1/3 Medical & paramedical services	1.1991	99.9	-0.1	2.9
Doctors' fees	1.0386	99.9	-0.1	3.0
Other medical & paramedical services	0.1604	100.1	0.1	2.9
06.2.2 Dental services	0.5926	100.0	0.0	4.1
06.3 Hospital services	2.6394	100.0	0.0	-4.0
Total	5.3885	100.0	0.0	2.8

Table 10 COICOP Division 07 Transport - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
07.1 Purchase of vehicles	3.6982	99.9	-0.1	3.6
07.1.1 Motor cars	3.5962	99.9	-0.1	3.8
07.1.2 Motor cycles	0.0301	100.1	0.1	1.3
07.1.3 Bicycles	0.0719	99.3	-0.7	-5.5
07.2 Operation of personal transport equipment	6.1521	99.9	-0.1	3.4
07.2.1 Spare parts & accessories for personal transport equipment	0.4683	100.0	0.0	3.5
07.2.2 Fuels & lubricants for personal transport equipment	3.2602	98.5	-1.5	2.5
Petrol	1.7311	98.5	-1.5	5.7
Diesel	1.5248	98.5	-1.5	-0.8
Motor oil	0.0044	101.9	1.9	-0.9
07.2.3 Maintenance & repair of personal transport equipment	1.0264	100.0	0.0	5.9
07.2.4 Other services in respect of personal transport equipment	1.3972	102.8	2.8	4.2
Motor tax	0.6650	100.0	0.0	0.0
Other vehicle costs	0.6832	107.5	7.5	9.9
07.3 Transport services	2.3406	79.1	-20.9	-0.9
07.3.1 Passenger transport by railway	0.0407	100.0	0.0	0.0
07.3.2 Passenger transport by road	0.2190	100.0	0.0	0.1
Bus fares	0.1381	100.0	0.0	0.1
Taxi fares	0.0634	100.0	0.0	0.0
07.3.3 Passenger transport by air	2.0172	75.7	-24.3	6.5
07.3.4 Passenger transport by sea & inland waterway	0.0399	103.1	3.1	4.1
07.3.5 Combined passenger transport	0.0072	100.0	0.0	0.0
07.3.6 Other purchased transport services	0.0166	100.4	0.4	2.1
Total	12.1909	95.9	-4.1	2.1

Table 11 COICOP Division 08 Communications - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
08.1 Postal services	0.1113	100.0	0.0	-1.4
08.2/3.0 Telephone & telefax equipment and telephone & telefax services	2.6354	100.0	0.0	1.5
Total	2.7468	100.0	0.0	1.3

Table 13 COICOP Division 10 Education - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
10.1 Pre-primary & primary education	0.0799	100.0	0.0	0.8
10.2 Secondary education	0.1726	100.0	0.0	5.2
10.4 Tertiary education	0.8569	100.0	0.0	1.7
10.5 Education not definable by level	0.1092	100.0	0.0	0.1
Total	1.2185	100.0	0.0	2.0

Table 14 COICOP Division 11 Restaurants and Hotels - January 2024
Description	Weights	Index	Percentage changes
Description	2024	Dec. 2023=100	1 month	12 months
11.1 Catering services	17.1891	100.5	0.5	6.8
11.1.1 Restaurants, cafes & the like	16.5848	100.4	0.4	6.7
Licenced premises	4.0168	100.0	0.0	5.7
Spirits	0.2416	100.0	0.0	4.9
Wine	1.1822	100.2	0.2	5.3
Beer	1.8305	100.0	0.0	6.2
Soft drinks & mineral water	0.8735	100.0	0.0	5.4
Restaurants, cafes, fast food & take-away food	12.0256	100.5	0.5	7.3
11.1.2 Canteens	0.6044	102.9	2.9	9.9
11.2 Accommodation services	2.3689	93.6	-6.4	7.6
Total	19.5580	99.6	-0.4	7.2

Table 16 Consumer Price Index Goods and Services by COICOP Division - January 2024
COICOP Division		Weights 2024			Index		Percentage changes
					Dec. 2023=100
		Overall	Goods	Services	Goods	Services	Goods	Services	Overall
							12 months	12 months	12 months
01	Food and Non Alcoholic Beverages	9.942	9.942	-	99.8	-	4.6	-	4.6
02	Alcoholic Beverages and Tobacco	4.740	4.740	-	102.4	-	4.7	-	4.7
03	Clothing and Footwear	5.442	5.339	0.103	89.7	100.8	-1.4	3.8	-1.3
04	Housing, Water, Electricity, Gas and Other Fuels	16.164	1.635	14.529	98.4	100.1	-6.9	5.7	4.3
05	Furnishings, Household Equipment and Routine Household Maintenance	5.462	4.451	0.990	98.6	100.0	-0.5	3.8	0.2
06	Health	5.389	0.957	4.431	100.1	100.0	3.3	2.7	2.8
07	Transport	12.191	7.427	4.764	99.3	90.6	3.1	1.6	2.1
08	Communications	2.747	0.220	2.527	100.5	100.0	-9.5	2.4	1.3
09	Recreation and Culture	6.832	1.997	4.779	100.7	96.0	1.1	13.3	9.3
10	Education	1.219	-	1.219	-	100.0	-	2.0	2.0
11	Restaurants and Hotels	19.558	-	19.558	-	99.6	-	7.2	7.2
12	Miscellaneous Goods & Services	10.316	3.059	7.257	99.6	100.2	-1.1	5.9	3.7
ALL ITEMS		100.000	39.824	60.156	98.5	98.9	1.5	6.1	4.1

Table 17 Consumer Price Index Subindices - January 2024
Subindices		Consumer Price Index (CPI)		Percentage changes
	Weights
	2024	Dec. 2023=100	Dec. 2016=100	1 month	3 months	12 months
CPI excluding Tobacco	97.936	98.7	118.9	-1.3	-1.6	4.0
CPI excluding Housing	89.936	98.6	115.8	-1.4	-2.0	2.9
CPI excluding Mortgage Interest	97.944	98.7	117.8	-1.3	-1.7	3.1
CPI excluding Mortgage Interest and Local Property Tax	97.520	98.7	117.9	-1.3	-1.7	3.2
CPI excluding Energy Products	90.496	98.7	115.9	-1.3	-0.7	5.3
CPI excluding Energy and Unprocessed Food	85.846	98.6	116.2	-1.4	-0.8	5.3
Notes: CPI excluding Housing excludes rents, mortgage interest, maintenance & repair of the dwelling, refuse collection, sewage collection and
insurance connected with the dwelling.
CPI excluding Energy Products excludes fuels & lubricants for personal transport equipment and electricity, gas & other fuels.
CPI excluding Energy and Unprocessed Food excludes fuels & lubricants for personal transport equipment, electricity, gas & other fuels, meat,
vegetables, fruit and fish.

Table 18 EU Harmonised Index of Consumer Prices (HICP) - Ireland
Period		HICP 2015=100		Percentage changes
Period		Monthly index	Moving 12-month average index	1 month	12 months	Moving 12-month average
2021	January	101.0	101.2	0.2	-0.1	-0.6
	February	101.3	101.1	0.3	-0.4	-0.7
	March	102.2	101.2	0.9	0.1	-0.7
	April	102.8	101.2	0.6	1.1	-0.6
	May	103.0	101.4	0.2	1.9	-0.4
	June	103.1	101.5	0.1	1.6	-0.2
	July	103.5	101.7	0.4	2.2	0.0
	August	104.2	102.0	0.7	3.0	0.4
	September	104.6	102.3	0.4	3.8	0.8
	October	105.4	102.7	0.8	5.1	1.3
	November	106.0	103.2	0.6	5.4	1.9
	December	106.5	103.6	0.5	5.7	2.4

2022	January	106.1	104.1	-0.4	5.0	2.8
	February	107.1	104.5	0.9	5.7	3.4
	March	109.3	105.1	2.1	6.9	3.9
	April	110.3	105.8	0.9	7.3	4.5
	May	111.5	106.5	1.1	8.3	5.0
	June	113.0	107.3	1.3	9.6	5.7
	July	113.4	108.1	0.4	9.6	6.3
	August	113.6	108.9	0.2	9.0	6.8
	September	113.6	109.7	0.0	8.6	7.2
	October	115.3	110.5	1.5	9.4	7.6
	November	115.5	111.3	0.2	9.0	7.9
	December	115.2	112.0	-0.3	8.2	8.1

2023	January	114.1	112.7	-1.0	7.5	8.3
	February	115.8	113.4	1.5	8.1	8.5
	March	116.9	114.0	0.9	7.0	8.4
	April	117.2	114.6	0.3	6.3	8.4
	May	117.5	115.1	0.3	5.4	8.1
	June	118.4	115.5	0.8	4.8	7.7
	July	118.6	116.0	0.2	4.6	7.3
	August	119.2	116.4	0.5	4.9	6.9
	September	119.3	116.9	0.1	5.0	6.6
	October	119.5	117.3	0.2	3.6	6.1
	November	118.4	117.5	-0.9	2.5	5.6
	December	118.9	117.8	0.4	3.2	5.2

2024	January	117.2	118.1	-1.4	2.7	4.8

Table 19 EU Harmonised Consumer Price COICOP Division Indices - January 2024 Ireland
COICOP Division		HICP	Percentage changes		Percentage contributions
COICOP Division		Year 2015=100	1 month	12 months	1 month	12 months
01	Food and Non-Alcoholic Beverages	110.0	-0.2	4.6	-0.02	0.52
02	Alcoholic Beverages and Tobacco	131.8	2.3	4.7	0.12	0.26
03	Clothing and Footwear	82.7	-10.1	-1.3	-0.58	-0.11
04	Housing, Water, Electricity, Gas and Other Fuels	162.6	-0.2	-1.9	-0.02	-0.31
05	Furnishings, Household Equipment and Routine Household Maintenance	87.6	-1.1	0.2	-0.07	0.01
06	Health	108.5	-0.1	-0.4	0.00	-0.02
07	Transport	115.8	-4.5	2.2	-0.56	0.32
08	Communications	90.1	0.0	1.3	0.00	0.05
09	Recreation and Culture	110.0	-2.6	9.5	-0.19	0.70
10	Education	106.9	0.0	2.0	0.00	0.03
11	Restaurants and Hotels	132.0	-0.4	7.2	-0.08	1.20
12	Miscellaneous Goods and Services	96.0	-0.1	1.6	-0.01	0.12
	All Items HICP	117.2	-1.4	2.7	-1.4	2.7
Notes: For the percentage contributions, the sum of the 2-digit COICOP divisions may not equal the All Items HICP due to rounding differences.