Restaurant and hotel prices increased year on year last month, according to data revealed by the Central Statistics Office (CSO) in its Consumer Price Index (CPI) for May 2023.
Data
According to a statement published on CSO.ie, the CPI rose by 6.6% year on year last month - down from an annual increase of 7.2% in the 12 months to April of this year.
Annual Changes
According to the statement published on CSO.ie, food & non-alcoholic beverages prices increased by 12.7% year on year, restaurants & hotels prices increased by 8.6% year on year, recreation & culture prices increased by was 6.4% year on year, and transport prices decreased by 1.7%.
According to the CSO statement, food & non-alcoholic beverages increased as a result of higher prices across a range of products, including meat, bread & cereals, milk, cheese & eggs, and vegetables; restaurants & hotels increased annually mainly as a result of higher prices for alcoholic drinks and food consumed in hospitality venues, and an increase in the cost of hotel accommodation; recreation & culture increased primarily as a result of higher prices for package holidays, recreational & sporting services participation, and products for pets; and transport decreased mainly as a result of lower diesel, petrol, passenger transport by bus & coach, and services in respect of personal transport equipment prices, with this decrease being partially offset by higher motor car prices.
Monthly Changes
Additionally, according to the statement published on CSO.ie, restaurants & hotels prices increased by 1.6% month on month in May, alcohol beverages & tobacco prices increased by 1.0% month on month, and transport prices decreased by 1.2% month on month.
According to the CSO statement, restaurants & hotels increased as a result of higher alcoholic drink and food prices in hospitality venues and a rise in hotel accommodation costs, and transport decreased mainly as a result of lower airfare petrol and diesel prices, with this decrease being partially offset by higher motor car and services in respect of personal transport equipment prices.
Read More: Restaurant And Hotel Prices Increased Year On Year In April, Notes CSO
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