Monday 19 March 2018

Drop in petrol prices drives down cost of living in November

Aideen Sheehan

Aideen Sheehan

PRICES fell slightly by 0.4pc in November, driven by falling fuel prices, new new inflation figures from the Central Statistics Office show.

But though motorists saw some improvement at the pumps, the cost of filling up is still 8pc dearer than it was a year ago.

Mortgage interest prices also rose slightly in November, but they're down by 17pc in the last 12 months.

And while overall food prices have risen by just 0.7pc in the last 12 months, there's been significant increases for potatoes, breakfast cereals, soft drinks and fruit juice.

The cost of smoking also rose by 7pc in the last year, and the latest budget increases will add further to that.

Education costs meanwhile rose by 4.7pc driven mainly by higher third-level student contribution charges.

And though general health costs are almost unchanged, the price of private health insurance is up 16pc in the last year.

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