The price of a pound of butter and two litres of full fat milk increased again last month for Irish consumers, according to new figures released today (Thursday, November 9) by the Central Statistics Office (CSO).
Butter jumped by another 4c, while milk increased by 6c compared to the price consumers would have paid in October 2022.
The latest CSO analysis shows that there was an increase across the board in the price of many household staples in Ireland.
Consumer prices rose by 0.3% in the month between September 2023 and October 2023.
The national average price for bread – a large 800g white sliced pan – was also up 2c last month compared to prices paid a year earlier, while Irish cheddar cheese showed one of the biggest increases in year on year prices – rising by 25c.
According to Anthony Dawson, statistician in the CSO prices division, the latest Consumer Price Index (CPI) shows that prices for consumer goods and services in October 2023 rose by 5.1% on average, in comparison to October 2022.
“This was down from 6.4% in the 12 months to September 2023.
“Prices have been rising on an annual basis since April 2021, with annual inflation of 5.0% or more recorded in each month since October 2021,” Dawson added.
In general food and non-alcoholic beverages showed one of the biggest price increases for consumers in the 12 months to October 2023 – rising by 7.0%.
But the latest CPI also states that in October 2023, the national average price of a pint of stout in licensed premises was €5.62 – up 47c in the year – while a pint of lager was €6.06, up 50c in comparison to October 2022.
The other key areas where there were large increases included recreation and culture which jumped by 9.7%, restaurants and hotels by 7.7%, while housing, water, electricity, gas and other fuels rose by 7.2%.
The latest CSO/CPI highlights that transport was another key area where prices increased, because of “higher prices for airfares, diesel and petrol”.