Inflation rises to highest level in almost four years
Ireland's inflation rate has risen to its highest level in almost four years due mainly to huge rises last year in mortgage payments and oil prices.
The Central Statistics Office says the rate rose from 4.4% in November to 4.9% in December, the highest level since March 2003.
It also says the average inflation rate for 2006 was the highest in four years at 4%.
The main factors pushing up prices are increasing mortgage repayments, which were up 31.5% in 2006, as well as significant hikes in the price of gas (27.8%) and home-heating oil (10.4%).
Fine Gael is blaming the Government for the situation, claiming it has done nothing to control price increases in areas under its control, like electricity and gas.
Party spokesman Richard Bruton claims prices controlled by the Government have risen by more than 40% in the past four years, while the cost of goods in the shops has actually fallen slightly over the same period.
