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Irish Mirror
Irish Mirror
National
Ailbhe Daly

Latest figures show further drop in consumer prices, CSO confirms

Consumer prices have dipped for the third month in a row, the Central Statistics Office confirmed.

The Consumer Price Index (CPI) showed that prices fell by 0.4% year on year but were 0.3% higher month-on-month for the first time since March.

Sales saw the price of clothing and footwear drop by 5.1% as stores reopened to the public while housing, water, electricity, gas and other fuel prices also fell by 2.3% last month mainly due to a reduction in the price of home heating oil, electricity and gas.

There was also a drop in petrol and diesel prices during June, but this decrease was partially offset by higher prices for cars.

However, prices increased on a range of services including restaurants and bars, as well as higher prices in hotels.

Miscellaneous goods and services also rose, mainly due to higher health insurance premiums and an increase in the cost of childcare services.

And recreation and culture was on the rise due to higher prices for package holidays and an increase in the cost of recreational and sporting services.

A CSO statistician said: “Due to Covid-19 restrictions, there continued to be unprecedented changes in household consumption patterns during June 2020. It was estimated that households, on average, were unable to consume 25.5% of the goods and services in the CPI basket of goods and services.

“This is the same figure as the previous month.

“In addition to this, due to the closure of non-essential retail outlets, household consumption for many other goods and services was significantly reduced.”

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