Average consumer price inflation in August fell to 8.7% from 9.1% in the year to July 2022, according to the Central Statistics Office.

However, consumer prices rose by 0.2% in the month between July and August.

On an annual basis, Housing and Utilities (+20.3%) and Transport (+14.8%) continue to be main drivers of the Consumer Price Index (CPI).

The sectors with the largest increases in the month were Health (+1.3%), Clothing & Footwear (+1.1%) and Housing/Utilities (+1.0%) while the only decrease in the month was seen in Transport (-2.0%), due to lower fuel pump prices. This decrease was partially offset by an increase in the cost airfares and cars.

The CSO said increased energy costs are reflected in electricity up 38.1%, gas up 56.1%, home heating oil up 72.9% and solid fuels up 31.9% in the year.

In Association with

The annual change in Transport costs reflects a rise in the cost of diesel (+34.6%), petrol (+23.5%), purchase of motor cars (+11.3%) and airfares (+34.2%) compared with August 2021.

The CSO has also published today the National Average Price for a number of items for July 2022.

In the year to July 2022, there were price increases in an 800g loaf of white sliced pan (+23c), 2 litres of full fat milk (+36c) and a pound of butter (+58c).

The comprehensive list of items included in the National Average Prices and their monthly prices are available here (if you can dig through the data thicket).

Average prices as measured by the EU Harmonised Index of Consumer Prices (HICP) increased by 9.0% compared with August 2021.

The most notable changes in the year were increases in Housing and Utilities (+24.4%), Transport (+15.2%), Food and Non-Alcoholic Beverages (+8.7%) and Alcoholic Beverages & Tobacco (+8.0%).

The HICP increased by 0.2% in the month.

Consumer price inflation across the eurozone was estimated to average 9.1% for August.