New figures from the Central Statistics Office today reveal that the annual rate of inflation remained at a two-year high of 3% in October. Inflation had jumped from 2.3% in August to 3% in September, mainly due to higher fuel costs.
The CSO says that consumer prices in October increased by 0.1% in the month. This was the same as the rise recorded in October 2004 and as a result, the annual rate of inflation remained at 3%.
The CSO said that the annual rate of inflation for goods was 1.7% in October, while the corresponding rate for services was 4.1%.
Last month education costs rose by 2.1% with increased third level tuition fees as well as higher fees for private secondary education.
Costs for housing, water, electricity, gas and other fuels increased by 1.7%, with hikes in natural gas and home heating oil and higher average mortgage interest repayments.
Clothing and footwear prices fell by 1.3%; transport costs decreased by 0.8% with lower prices for petrol and a fall in air fares.
