Inflation slowed for a second successive month in April, although food prices continued to rise significantly, according to the latest Central Statistics Office (CSO) consumer price index.
The report show that inflation fell to 7.2% in the 12 months to April, down from 7.7% in March. This marked its lowest level in a year.
Prices for housing, water, electricity, gas and other fuels grew by 20.7% over the year, while those for food and non-alcoholic beverages jumped by 13.1%.
The most notable increases were seen in the subcategory housing, water, electricity, gas & other fuels, which includes electricity (+51.3%), gas (+55.8%), and mortgage interest repayments (+41%).
Products like sugar (+38.9%), frozen fish (+29.9%), fresh whole milk (+24.1%), butter (+18.9%), and eggs (+18.3%) all experienced large price increases in comparison to last April.
The price of fresh whole milk was up 24.1%, butter prices increased by 18.9% and eggs rose 18.3% compared to the same time last year.
The CSO noted that the cost of education and transport were the only divisions to show a decrease when compared with April of last year, with prices in the sectors down 6.3% and 2.3% respectively.
The Department of Finance last month revised down its inflation estimate for 2023 to 4.9% and forecast a figure of 2.5% next year.
The CSO also published details of its National Average Prices for selected goods and services today.
These show that the national average price for a large white sliced pan was up 23 cents in the year to April, while the same size brown sliced pan was up 18 cents in the year.
Spaghetti per 500g increased by 27 cents in the year while the average price for 2.5kg of potatoes was up 11 cent.
Full fat milk per 2 litres rose by 44 cents in the year while the average price of Irish cheddar per kg was up €1.42 and butter per pound rose by 66 cents.
Take-home 50cl cans of beer costing €2.30 were on average 14 cents more expensive than they were in April of last year, while 50cl cans of cider costing €2.54 were more expensive.
A pint of stout cost an average of €5.50 nationwide in April, up 38 cents from the prior year, while a pint of lager cost €5.97, up 47 cents from the same month in 2017.