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CPI shows inflation rose by 1.2% in December

The most significant monthly price changes were in restaurants and hotels, food and non-alcoholic beverages and health insurance and hairdressing.

Image: Inflation via Shutterstock

THE LATEST CONSUMER Price Index has shown that consumer prices in December increased by 0.1 per cent, compared to a decrease of 0.3 per cent recorded in December 2011.

Prices on average were 1.2 per cent higher in December compared with December 2011.

The most significant monthly price changes were in restaurants and hotels which were up by 0.7 per cent, food and non-alcoholic beverages were 0.6 per cent more expensive and miscellaneous goods and services, such as health insurance and hairdressing, also rose by 0.6 per cent.

However, there was a 1.3 per cent decrease in clothing and footwear because of December sales.

The most notable increases in 2012 included education, which was up by 4.7 per cent, transport increased by 4.2 per cent and alcoholic beverages and tobacco rose by 2.7 per cent.

In 2012, the price of communications decreased by 5.4 per cent, furnishings, household equipment and routine household maintenance fell by 2.7 per cent and housing, water, electricity, gas and other fuels fell by 1.9 per cent.

Read: Sharp fall in consumer sentiment due to Budget worries >

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Amy Croffey

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