Tuesday 17 October 2017

Inflation at 1.6pc but education costs rise

Aideen Sheehan

Aideen Sheehan

Annual inflation is now running at 1.6pc -- well below last year's rate of 2.6pc.

The Consumer Price Index shows that overall inflation declined by a marginal 0.1pc in September.

However, education costs have soared by 9.6pc in the past year, mainly driven by higher third-level charges.

Transport costs have increased by 7.9pc in the past year as petrol and diesel prices soared.

However, transport prices fell back a little in September thanks to airlines cutting air fares by an average of 17pc, with the end of the peak summer season.

Clothes and shoe prices rose by 2.9pc last month as prices climbed again after the end of summer sales, while the price of alcohol also rose.

Potatoes, crisps and chocolate prices all rose by more than 3pc last month, though food prices remained generally stable.

Housing costs also fell slightly because of lower mortgage interest bills for homeowners on tracker mortgages.

Irish Independent

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