The annual rate of inflation rose to 4.8 per cent in November according to figures released today by the Central Statistics Office (CSO).
The CSO said consumer prices, as measured by the Consumer Price Index, increased by 0.1 per cent in November.
This compares to a decrease of 0.1 per cent for November of last year and, as a result, the annual rate of inflation rose to 4.8 per cent, up from 4.6 per cent in October.
The most significant monthly price increases were in education (up 2 per cent), health, recreation and household furnishings.
The CSO said the rising education prices were due to higher fees for adult education classes, language courses and music lessons.
It said inflation was also fuelled by increased health fees charged by doctors and dentists and increased charges for prescribed drugs and other medicines.
IBEC's chief economist, Mr David Croughan said that the monthly increase represented a significant slowdown from the previous three months, and in the last six months inflation had risen by only 1.4 per cent, which was equivalent to an annual rate of less than 3 per cent.
Fine Gael said the continued rise in the rate of inflation posed a real threat to competitiveness.
Finance spokesman Mr Bruton claimed: "Far from moderating inflationary pressures, the Government has been fuelling the problem by resorting to increases in charges and prices to correct its own mistakes in public finances.
"Inflation is likely to hit 6 per cent early next year as budget measures take effect. The main engines of inflation in the past twelve months have been education, health, energy products and transport. In all of these areas, government policy is the critical factor pushing up costs.
"Not only is the public paying for the Government's partying, but jobs are being put under threat."
The EU Harmonised Index of Consumer Prices rose by 0.1 per cent in the month. This monthly increase compares to a decrease of 0.2 per cent for November of last year and, as a result, the annual rate of change recorded increased to 4.7 per cent from 4.4 per cent in October.