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November figures show inflation rise to 4.4%

Housing - ECB hike hits inflation
Housing - ECB hike hits inflation

Figures from the Central Statistics Office show that the annual rate of inflation has risen again to 4.4% in November.

The rise comes after two successive decreases.

The rate had been 3.9% in October and is now close to the three-year high of 4.5% reached last August.

The CSO said prices rose by 0.3% compared with October, mainly because of higher mortgage interest bills after the ECB hike in rates in October. Rents also rose.

Clothing and footwear prices were 1.4% higher than in October, while education costs were up 0.6%. Transport prices fell 0.7%, however, as oil prices remained subdued.

The CSO figures show that the annual rate of inflation for services is now 8.5%, while goods prices have dropped 0.3% over the past year.