Data just released by the Central Statistical Office (CSO) shows that food prices increased by 0.3 per cent in July.
The All Items Index of Retail Prices calculated from the prices collected for July was 104.6—an increase of 0.2 point or 0.2 per cent above the All Items Index for the previous month.
The Index for Food and Non-Alcoholic Beverages increased from 110.4 in June to 110.7 in July, reflecting an increase of 0.3 per cent. The CSO said there was a general upward movement in the prices of tomatoes, garlic, fresh whole chicken, ochroes, cabbage, Irish potatoes, parboiled rice, white flour, lettuce and sweet potatoes. However, this was offset by a decrease in the prices of fresh carite, cucumber, chive, full cream milk, other breakfast cereals (not cornflakes), fresh steak (beef), other chilled or frozen chicken, fresh king fish, celery;and orange.
There were also increases in the sub-indices for clothing and footwear of 0.3 per cent, furnishings, household equipment and routine maintenance of the house of 0.2 per cent, health 1.5 per cent, recreation and culture 0.3 per cent, Hotels, cafes and restaurant 0.3 per cent and miscellaneous goods and services of 0.9 per cent. Decreases were noted in the sub-indices for alcoholic beverages and tobacco of 0.1 per cent, housing, water, electricity, gas and other fuels of 0.1 per cent and communication of 0.1 per cent.
In July, the inflation rate was 3.2 per cent, a decrease from 3.3 per cent from the previous period (January to June 2016 / January to June 2015). The inflation rate for the comparative period (January to July 2015 / January to July 2014) was 5.9 per cent.