Business Irish

Tuesday 17 January 2017

Annual rate of Inflation hits 2.8pc, says CSO

Published 10/11/2011 | 14:32

THE annual rate of inflation moved up to 2.8pc last month from 2.6pc in September.

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This makes it the highest rate since April.

Increases in education costs and higher gas and electricity charges were among the main factors pushing it up, according to the Central Statistics Office.

The CSO said consumer prices rose by 0.3pc compared with September, as higher third-level education fees pushed education costs up 7.5pc..

Natural gas prices jumped by more than 20pc during October, while electricity prices were up 6.4pc.

Rents rose 1.1pc, while mortgage interest costs were up 0.6pc.

Mortgage costs have risen by more than 18pc over the past 12 months, but are now due to come back down for many. .

Transport prices fell by 0.8pc, due to lower air fares and petrol prices.

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