Inflation rate falls to 2.1% despite rising consumer prices
14/07/2005 - 11:45:18Ireland's inflation rate fell to 2.1% last month despite an increase in consumer prices, according to figures published today by the Central Statistics Office.
The CSO said average prices increased by 0.3% during the month, compared to a 0.6% in June 2004.
This brought the annual inflation rate down from 2.4% in May to 2.1% last month.
The CSO said the main driver of inflation over the last year was a 10.2% increase in the cost of housing, water, electricity, gas and other fuels.
This increase accounted for almost half of the total inflation rate.
The cost of health and education, as well as the prices charged by restaurants and hotels, were also identified among the primary causes of inflation in the past 12 months.
