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Annual CPI up by 5% for 13 months straight

The Consumer Price Index (CPI) rose by 9.2% between October 2021 and October 2022, up from an annual increase of 8.2% in the 12 months to September 2022, new CSO data shows.

This is the thirteenth straight month where the annual increase for the CPI has been at least 5.0%.

The divisions with the largest increases in the year to October were:

• Housing,
• Water,
• Electricity,
• Gas and other fuels (+27.8%),
• Food and non-alcoholic beverages (+10.6%).

Education (-6.6%) and miscellaneous goods and services (-0.1%) were the only divisions to show a decrease when compared with October 2021.

Consumer prices rose by 1.6% in the month between September 2022 and October 2022.

Highest rate since 1984

Statistician Anthony Dawson said: “This is the highest rate of inflation since June 1984 when inflation was 9.7% and follows an increase of 8.2% in the year to September 2022.

"Prices have been rising on an annual basis since April 2021, with annual inflation of 5.0% or more recorded in each month since October 2021.”