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 March 2023.
Data
According to a statement published on CSO.ie, the Consumer Price Index (CPI) rose by 7.7%, year on year, last month – down from an annual increase of 8.5% in the 12 months to February of this year.
Annual Changes
According to the statement published on CSO.ie, the upward contribution to the CPI in the year by food & non-alcoholic beverages was 1.45%, while restaurants & hotels was 1.36%, and recreation & culture was 0.32%.
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, primarily as a result of higher prices for alcoholic drinks and food consumed in hospitality venues, and an increase in the cost of hotel accommodation; and recreation & culture increased mainly as a result of higher prices for recreational & sporting services participation, package holidays, and products for pets.
Monthly Changes
Additionally, according to the statement published on CSO.ie, the upward contribution to the CPI in the month by restaurants & hotels was 0.30%, while transport was 0.27%, and alcoholic beverages & tobacco had a downward contribution of -0.01%.
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; transport rose mainly as a result of higher airfares and motor car prices, with this rise being partially offset by lower diesel and petrol prices; and alcoholic beverages & tobacco decreased as a result of lower prices for wine and spirits sold in supermarkets and off-licences, with this decrease being partially offset by a rise in tobacco product costs.
Read More: Restaurant And Hotel Prices Increased Year On Year In February, Notes CSO
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