Winners and losers: Renters
Cost of living down 4.6 per cent over the year
National average down 2.1 per cent
Renters have seen their cost of living fall faster than any other grouping in the Sunday Independent/KBC Cost of living survey. With rent the largest single outgoing, based on our calculations the 8.3 per cent drop in prices has had a massive effect on renters' disposable incomes.
Food prices are 7.1 per cent cheaper over the past year, with jam down 4.2 per cent and bacon falling 7.8 per cent in the past year. Chicken is 16 per cent better value than it was a year ago. Coffee has fallen by 8.8 per cent, with tea down 2.3 per cent, although that downward trend has changed over the past month.
Politicians are the only group in the survey to see their cost of living actually rise over the past 12 months
Clothes and footwear are also much cheaper than they were this time last year.
Scrabble, chess and other games are much cheaper, with prices falling 8.4 per cent; and outdoor equipment such as camping gear is also coming down in price.
Television services have risen 0.5 per cent, with cinema charges also up, as are entry fees to cultural attractions which have risen 2.1 per cent.
Pub and restaurant charges have fallen 2.2 per cent, which has a noticeable impact as this accounts for about a seventh of renter outgoings.
But public transport and package holidays have seen price rises.