School fees push inflation to 2.7% in October

Higher school fees and rising oil prices pushed the annual rate of inflation in October to 2

Higher school fees and rising oil prices pushed the annual rate of inflation in October to 2.7 per cent, according to official statistics.

The latest Consumer Price Index shows that the cost of buying the weighted basket of goods and services increased by 2.7 per cent compared to a 2.5 per cent rise in September.

Increases in third-level tuition and maintenance costs, and higher fees for private secondary education and creches were the main drivers behind the October increase, according to the Central Statistics Office.

Housing, water and fuels rose due to an increase in average mortgage interest repayments and higher oil prices.

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The annual rate of inflation for goods was 1.6 per cent in October while the corresponding rate for services was 3.7 per cent.

The annual rate of inflation as measured by the EU's favoured indicator increased slightly from 2.4 per cent in September to 2.5 per cent in October.

The most notable price changes over the year were increases in energy costs (+7.4 per cent ), health (+ 5.8 per cent ) and education (+5.6 per cent).

There were falls in the price of clothes and shoes (-2.5 per cent) and household furnishings (-1.7 per cent ).