Inflation

Key Points

Consumer Prices Index (CPI)

Inflation as measured by Consumer price index stands at 7.4% for December 2022, down from 7.9% in November 2022.

'Housing, water, electricity, gas and other fuels' continues to be the biggest contributor to the rate of inflation with an increase of 22.9%, with 'Gas' seeing the biggest increase in this category of 60.9%.

'Food and non-alcoholic beverages', has seen the second biggest increase contributing 13.1% to the overall CPI, with prices rising 0.8% on the previous month. 'Butter', has seen the biggest increase in this category up 29% compared to 12 months ago.

The third biggest contributor to the rate of inflation was 'Restaurants and Hotels' contributing 11.8% to the overall CPI. 'Catering' has seen the biggest increase in this category 13.5%.