Property prices nationwide up by over 10%
Price inflation has reached 10.9% for residential property (August) and 3.7% for consumer goods and services (September), new CSO data shows.
The Residential Property Price Index (RPPI) increased by 10.9% nationally in the year to August 2021, with prices in Dublin rising by 10.2% and prices outside Dublin rising by 11.5%.
In August, 3,764 dwelling purchases by households at market prices were filed with Revenue, an increase of 59.6% compared to August 2020.
The Consumer Price Index (CPI) increased by 3.7% in the year to September 2021, the largest annual change in prices since October 2008 (+4.0%).
Consecutive rises
Consumer prices have increased 0.5% in the month which is the eleventh month in a row that has shown monthly inflation, the longest sequence of monthly inflation since 2007
The divisions with the largest increases in the year were:
- Transport (+11.4%),
- Housing, water, electricity, gas and other fuels (+9.0%),
- Alcoholic beverages and tobacco (+4.9%)
- Restaurants and hotels (+2.7%).
There were decreases in clothing and footwear (-3.0%) and miscellaneous goods and services (-0.2%) when compared to September 2020.