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Dublin: 6°C Monday 24 January 2022

Another rise in consumer prices. The main drivers? College fees & alcohol

The hike in college fees last October translated into a 4.6 per cent rise in education costs over the last 12 months.

Image: group of people via Shutterstock

THE LATEST CONSUMER Price Index from the CSO shows the prices of goods and services increased by 0.2 per cent in the 12 months up to the end of January this year.

According to the statistics office, the main drivers of the increase were rises in Education costs and Alcohol & Tobacco prices.

The rise in education costs follows the Government decision to increase the annual Student Contribution Charge by €250 from the start of the 2013 academic year. The charge is due to increase by €250 every year until 2015, when it will be €3,000.

The price of cigarettes and alcohol went up the day after last October’s Budget — with the price of a pack of 20 rising by ten cent and an extra 50 cent in tax being placed on a bottle of wine.

Decreases were recorded in the categories of ‘Furnishings, Household Equipment & Routine Household Maintenance’ (-3.3 per cent), ‘Communications’ (-2.4 per cent), ‘Clothing & Footwear’ (-2.3 per cent) and ‘Transport’ (-2.1 per cent).

According to the CSO, transport costs fell “mainly due to decreases in petrol, diesel, motor car prices and air fares”.

Read: Cigarettes and pints up by 10 cent, wine up by 50 cent

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