New figures show that consumer prices rose by 0.7% in August compared to the same time last year due to higher rents and an increase in the price of home heating oil, electricity and gas.

The Central Statistics Office said that on a monthly basis, consumer prices were up 0.3%.

On an annual basis, housing, water, electricity, gas and other fuels rose by 6.4%. Prices in restaurants and hotels were up 2.1% primarily due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes, and an increase in the cost of hotel accommodation.

August saw falls in the price of miscellaneous goods and services due to lower health and motor insurance premiums and lower prices for appliances, and personal care products.

The price of food fell 2.5% due to lower prices across a range of products such as vegetables, bread and cereals, meat and jam, honey, chocolate and confectionery.

The price of furnishings and household equipment decreased by 4.1% mainly due to the reduced cost of non-durable household goods, furniture and furnishings, glassware, tableware & household utensils and household textiles.

The most significant monthly price changes were increases in clothing and footwear, up 5.4%, due to a recovery from sales.

The cost of transport decreased by 1% primarily due to a reduction in air fares.