Sharp rise in health insurance costs and rents for February in Ireland
The cost of residential rents and health insurance have continued to climb, according to the latest Consumer Price Index, for February.
The CSO figures show that prices of all goods and services across the economy remain subdued, with the price index rising by 0.6% in the latest month and by the annual rate of 1.1%.
However, the costs of all types of housing, including rents and the servicing of a home mortgage, stand out, despite inflation remaining muted across Europe.
Private landlord rents rose 0.3% in February and climbed by almost 4% in the year, while local authority rents, although unchanged in the month, nonetheless rose by almost 3% in the year.
Despite a number of banks announcing cuts in fixed-rate mortgages in recent weeks, the costs of mortgage interest payments were 2.9% higher in February from the same month in 2019, but were unchanged in the month.
Elsewhere, the costs of different types of insurances were mixed, the CSO figures show.
The costs of health insurance stand out: They rose by 1.4% in the month and were 6.4% higher in the year.
Travel insurance was unchanged in February and was up 1.4% in the year, but has risen 1.4% since February 2019.
However, motor insurance costs edged lower, by 0.1%, in February, and were 6.4% cheaper than a year earlier, the CSO figures show.
The CSO said that the 1.1% overall rise in its inflation index was driven by price rises in education, alcohol, and tobacco, and by transport.
The prices of communications services, furnishings, and household equipment, food, and clothing, all fell, however.
