CSO Releases October Index of Retail Prices

The October Index of Retail Prices is out, and the Central Statistical Office says it stands at one hundred and twenty-three point six, an increase of 4.6 points or 3.9 percent above the Index for September 2022. The Inflation Rate for October 2022 rose to 5.4 percent, an increase from 5.1 percent as recorded in January to September 2022. The Inflation Rate for the comparative period in 2020 was 1.8 percent. The Index for Food and Non-Alcoholic Beverages increased by 2.5 percent. Contributing significantly to this increase was the general upward movement in the prices of tomatoes; fresh carite; pumpkin; white flour; hot peppers; cheddar cheese; table margarine; chive; celery and carrots. However, the full impact of these price increases was offset by the general decreases in the prices of eddoes; garlic; melongene; and other produce items. Clothing and Footwear increased by 1.6 percent; Housing, Water, Electricity, Gas and other Fuels by 3.1 percent. So too did Furnishings, Household Equipment and Routine Maintenance of the House by 6.5 percent. Recreation and Culture went up by 5.0 percent; Hotels, Cafés and Restaurants by 7.4 percent.