PRICES have skyrocketed at the fastest rate in nearly four decades, putting pressure on household budgets.
The consumer price index rose by 9.1 pc in the year to June, according to Statistics Netherlands (CSO).
This is up from an annual increase of 7.8 percent in the year to May.
The monthly increase in consumer prices was 1.3 percent between May and June.
According to statisticians, annualized prices rose at the fastest rate since 1984.
Households are under pressure as prices have now risen on an annual basis since April last year.
As a result, an annual inflation rate of 5% or more per month has been recorded since October 2021.
The costs of energy and motor fuel continue to rise.
In the past year, electricity prices rose by 41 percent, while gas prices rose by more than 57 percent.
Home heating oil has more than doubled in price in the past year, up 115 percent over the past year.
The cost of driving has also risen sharply. Petrol prices have risen by 44 percent, while diesel prices at the pump have risen by 51 percent.
Airfares have risen by an average of 38.4 percent since June last year.
CSO statistician Anthony Dawson said a breakdown of prices shows diesel was $1.93 a liter in May this year, up 56.5 cents a liter from May last year.
The petrol price of € 1.86 per liter had risen by 38.3 cents per liter between May this year and the same month last year.
The national average price for bread, a large, white-sliced 800 g pan, rose by 13.9 cents in the year to May.
The brown cut pan of the same size had risen 16.1c in the year.
Spaghetti per 500g rose by 18.3c in the year, while the average price for 2.5kg of potatoes fell by 19.3c.
The national average price of a 50cl can of lager to take home for €2.16 was on average 26 cents higher than in May last year
A 50cl can of cider to take home for €2.44 was 26.3 cents more in the year.
In May, the national average price of a pint of stout in a licensed space was € 5.13.
A pint of lager cost €5.52. Because pubs were closed for the CPI collection period in May 2021, annual comparisons for the price of a pint are not available, Dawson said.
Taxback.com Director Barry Cahill said: “Today’s report paints a black and white picture of the financial pressures currently weighing heavily on Irish households.
“People are haunted by the impact of inflation on the daily cost of living and it’s uncertain how much more they can withstand.”
He said when his company informed its taxpayer database, nine in 10 people reportedly felt they were driving up fuel costs to home and transportation since the beginning of the year.
And eight out of ten people said they have felt the surge in their alcohol, tobacco and food bills.