We are paying more in pubs, restaurants and on household bills as price rises hit seven year peak
Sharpest rise in prices since 2012 new figures from the
INFLATION has risen sharply due to higher prices for alcohol and food bought in restaurants and pubs, higher rents and rises in the cost of heating and lighting homes.
An increase in air fares and higher prices for diesel and petrol also contributed to the annual inflation rate hitting 1.7pc in April, according to the Central Statistics Office.
It is the sharpest rise in prices since 2012.
Ever-rising rents and higher interest being paid on mortgage loans were listed by the CSO as contributing to the overall rise in prices. Rents for private dwellings were up 5.4pc in the year in April.
The cost of electricity, gas and home-heating oil were all dearer in April compared with a year ago, as suppliers impose price rises.
Diesel costs were almost 7pc higher in the year, with the price of petrol 3pc higher. Air fares were up almost 20pc in the month compared with last year. The cost of wholesale oil prices are being blamed for higher transport costs.
The cost of eating out continues to rise, after the valued added tax (Vat) rate on the hospitality and services sectors was restored to 13.5pc at the start of the year.
Prices in restaurants and hotels rose by almost 4pc mainly due to an increase in the cost of hotel accommodation and higher prices for alcoholic drinks and food consumed in licensed premises, restaurants and cafes.
Newspapers and periodicals prices were up by 7.5pc in the year to April.
Meanwhile, a separate index shows the prices of groceries were up by 2.6pc annually over the Easter period, the fastest since August 2016.
Price inflation across the big five supermarkets as well as at M&S, Boots, Spar, and Centra, is confirmed in the latest report by market research firm Kantar.
Up to now grocery prices have hardly moved, due to the slump in the value of sterling compared with the euro due to Brexit plans. A large volume of the goods on supermarket shelves are sourced from the UK.