Consumers paid 4c less for 2L of full fat milk in June compared to the price they would have paid during the same month last year, according to new figures published today (Thursday, July 7).
But the Consumer Price Index (CPI) for June 2024, published by the Central Statistics Office (CSO), also shows that prices paid by consumers rose by 2.2% on average when compared to prices in June 2023.
Statistician in the CSO prices division, Anthony Dawson said: “There was a price increase in June 2024 for a 2.5kg bag of potatoes, while there were decreases in the price of Irish cheddar cheese per kg, an 800g loaf of white sliced pan and 2L of full fat milk when compared with June 2023.”
Consumers
According to the CSO the biggest price hikes year on year for consumers over the 12 months to June 2024 were seen in transport – which increased by 4.9% – and reflected increases in prices for diesel, which jumped by 12.8% and petrol which also rose by 9.3%.
In addition there was an annual increase in restaurant and hotel prices which bounced by 4.4% mainly because of higher prices for alcoholic drinks and food consumed in licensed premises, restaurants and cafes.
However consumers also saw lower prices when it came to clothing and footwear, which fell by 6.7% and furnishings, household equipment and routine household maintenance which dropped slightly by 1.1%.
This trend also continued in relation to national prices for some of the most popular household staple items in June 2024 compared with June 2023.
But in contrast the price paid by consumers for 2.5kg of potatoes was up 70c reflecting local shortages because of the impact of poor weather on both harvest and planting.
The Irish Farmers’ Association (IFA) previously called for compensation from the Department of Agriculture Food and the Marine (DAFM) for flood-impacted potato growers, who were unable to harvest significant proportions of their 2023 crops.