Monday 21 April 2014

Rate of inflation slows to 0.8%

For the third month running, the cost of living has fallen

The cost of living has fallen for the third month in a row and witnessed its biggest monthly fall in almost three years.

A week after the sixth austerity budget to hit the country, the rate of inflation slowed to 0.8% for November.

The Central Statistics Office (CSO) said one of the biggest fallers was the cost of transport, down due to lower petrol and diesel prices and cheaper air fares.

Energy prices, including electricity and gas, increased 0.3% in November but over the year were up by 3.1%

Other significant changes in the year were increases in education, up 4.7% and alcoholic beverages and tobacco, up 3.5%, both of which will record further increases on the back of the budget.

Communications costs came down by 4.4% over the year to November.

Press Association

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