Inflation increases to highest rate in two years

Inflation is on the rise again, with figures for February showing that the cost of living has increased to 3

Inflation is on the rise again, with figures for February showing that the cost of living has increased to 3.3 per cent, the highest in more than two years.

This compares to 3 per cent recorded in January.

According to the Central Statistics Office, consumer prices in February grew by 1.1 per cent during the month, compared with 0.8 per cent a year earlier.

Contributing to the high cost of living in Ireland was clothing and footwear, which rose 12.6 per cent, and furnishings, household equipment and routine household maintenance, which grew 2.3 per cent.

READ MORE

Transport prices also suffered a hike with increased prices for petrol and diesel, and higher air fares.

An increase in doctors' fees pushed health costs higher.

However, communications costs fell due to a drop in private telephone costs.