According to data from the Central Statistics Office (CSO), prices increased by 1.4% in 2024, reports Breaking News.
According to the data, inflation—the rate at which prices are increasing—has increased little since November of last year, when it was 1% annually.
Restaurant and hotel rates increased by 3.7% during the course of the year due to the increase in the cost of food and beverages, reports Breaking News.
In the 12 months leading up to December 2024, the consumer price index increased by 2.1%, excluding energy and unprocessed food.
With a 3.3% rise, recreation and culture had the second-highest increase, reports Breaking News.
Clothing & footwear (-8 percent) and furniture, domestic equipment & basic household maintenance (-1.3 percent) were the only sections to show a decrease from December 2023.
Recreation & Culture (+3.0%) and transport (+4.1%) were the categories that grew the most throughout the month, reports Breaking News.
Alcoholic drinks & tobacco (-0.9%) and communications (-0.2%) were the only divisions to report a decrease during the month.
Commenting on annual changes shown in the release, Anthony Dawson, CSO statistician in the prices division, said: “The release of the CPI shows that prices for consumer goods and services in December 2024 rose by 1.4 per cent on average when compared with December 2023,” reports Breaking News.
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