The Central Statistical Office is pleased to announce the release of the Index of Retail Prices for the month of June 2023.
Index of Retail Prices
The All Items Index of Retail Prices calculated from the prices collected for the month of June 2023 was 122.9, representing an increase of 0.4 points or 0.3% above the Index (All Items) for May 2023 as shown in the table attached.
The Index for Food and Non-Alcoholic Beverages increased from 143.0 in May 2023 to 145.3 in June 2023, reflecting an increase of 1.6%. Contributing significantly to this increase was the general upward movement in the prices of tomatoes, chilled or frozen beef, fresh beef, chilled or frozen pork, celery, onions, Irish potatoes, powdered milk–full cream, melongene and mixed fresh seasoning. However, the full impact of these price increases was offset by the general decreases in the prices of cucumber, carite-fresh, other chilled or frozen chicken, sweet potatoes, cheddar cheese, carrots, king fish-fresh, table margarine, green pigeon peas and salmon-fresh.
A further review of the data for June 2023 compared with May 2023 reflected an increase in the sub-index for Alcoholic Beverages and Tobacco of 0.1% and Health of 0.1%. Also, this period showed a decrease in the sub-index for Clothing and Footwear of 0.3%. All other sections remained unchanged.
Inflation Rate
The Inflation Rate for June 2023 (measured as the percentage change in the average All Items Index for the period January to June 2023/January to June 2022) was 6.8%. This represents a decrease from 7.0% which was recorded in the previous period (January to May 2023/January to May 2022). The Inflation Rate for the comparative period (January to June 2022/January to June 2021) was 4.5%.