Annual inflation rate rises to 1% in November - CSO

New figures from the Central Statistics Office show that consumer prices rose by 1% in November compared to the same time last year.

This marked an increase from the annual rate of inflation of 0.7% in the 12 months to October.

The CSO said the biggest increases in the 12 months to November were seen in Restaurants & Hotels, with prices there up by 3.8%, while Alcoholic Beverages & Tobacco prices rose by 3.5%.

Meanwhile the prices of Clothing & Footwear fell by 7.5%, while Transport costs eased by 1.6% in November of this year compared to the same month last year.

Today's figures also show that consumer prices in November fell by 0.5% from October.

The biggest monthly price changes were in Recreation & Culture, with prices there down 2.6% on lower costs for package holidays, while alcoholic Beverages & Tobacco prices dipped by 1.2%.

But Clothing & Footwear prices rose by 0.4% in November from October, while Food & Non-Alcoholic Beverages prices moved 0.2% higher.

The CSO also published the National Average Prices for selected goods and services for November today, which are compiled together with the inflation figures.

They show were price increases for a pound of butter, which rose by 58 cent, while Irish cheddar cheese per kg increased by 23 cent. A 2.5kg bag of potatoes was up by 18 cent and two litres of full fat milk rose by 13 cent.

There were decreases in the price of an 800g loaf of white sliced pan, which dipped by three cent, while an 800g loaf of brown sliced pan was a cent lower when compared with November 2023.