Interest rates and oil prices push inflation up to 4.2%
10/08/2006 - 11:41:34Ireland's inflation rate has jumped sharply in the past month due to higher interest rates, rising oil and gas prices and increases in the costs of eating and drinking out.
The Central Statistics Office said today that the inflation rate hit 4.2% in July, compared with 3.9% in June.
The main price increases during the month were a 3.3% rise in the cost of housing, water, electricity, gas and other fuels, a 0.9% increase in transport costs and a 0.6% hike in the prices charged by restaurants and hotels.
The cost of clothing and footwear fell by more than 10% as a result of the annual summer sales.
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