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Basket of goods used to determ...

Cork

Basket of goods used to determine inflation rates being updated

Kellie Murphy
Kellie Murphy

09:34 15 Feb 2024


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The basket of goods used to determine inflation rates here is being updated.

The Central Statistics Office will announce details of the changes later today.

For the past 75 years the CSO has monitored the price of 600 commonly bought household goods, to establish if consumer prices are rising or falling.

From the monthly analysis it establishes the rate of inflation in Ireland.

Since the process began the items in the shopping basket have changed to keep pace with shopping habits and updates in technology.

In past decades things like corsets, chewing tobacco and cassette tapes have made way for more modern goods like avocados, music downloads and e-cigarettes.

The list is generally updated every year, but the Covid pandemic means this latest updated has been delayed until today.


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