Inflation increases to 2.7% in October
Prices increased by 0.1% in the month of October, the reverse of a decrease of 0.1% in October of last year.
As a result, the annual rate of inflation increased to 2.7%, up from 2.5% in September.
The EU Harmonised Index of Consumer Prices (HICP) also increased by 0.1% in October, compared with no change in October 2003. The annual rate of inflation as measured by the HICP increased slightly from 2.4% in September to 2.5% in October.
According to figures from the Central Statistics Office (CSO), the most notable changes in the year were increases in housing, water, electricity, gas and other fuels (+7.4%), health (+5.8%), education (+5.6%), transport (+5.1%), restaurants and hotels (+4.5%) and drink and cigarettes (+3.4%).
The hike in education costs was down to an increase in third level tuition and maintenance
costs, and higher fees for private secondary education and playschools, the CSO said.
Housing, water, electricity, gas and oth fuels rose due to an increase in average mortgage interest repayments and higher prices for home heating oil and solid fuels.
Health costs increased with higher private charges in hospitals.
On the plus side (for consumers), there were decreases in clothing and footwear (-2.5%) and furnishings, household equipment and DIY gear (-1.7%).
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