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Petrol prices send Aug inflation higher

Thursday, September 13 11:17:04

Inflation, as measured by the Consumer Price Index (CPI) rose by 0.6pc in August compared to July and by 2pc on an annual basis with petrol price rises a big contributory factor, latest CSO figures show.

The most notable changes in the year were increases in Education (+9.6pc), Transport (+8.3pc), Miscellaneous Goods and Services (+5.4pc) and Alcoholic Beverages and Tobacco (+3.3pc).

There were decreases in Furnishings, Household Equipment and Routine Household Maintenance (-2.3pc), Communications (-2.0pc) and Recreation and Culture (-1.4pc).

The most significant monthly price changes were increases in Clothing and Footwear (+6.6pc), Transport (+1.6pc) and Furnishings, Household Equipment and Routine Household Maintenance (+0.7pc).

There was a decrease in Housing, Water, Electricity, Gas and Other Fuels (-0.5pc).

The main factors contributing to the monthly change were Clothing and Footwear and Furnishings, Household Equipment and Routine Household Maintenance rose due to a recovery in prices following the traditional summer sales.

Transport increased mainly due to higher petrol and diesel prices.

Housing, Water, Electricity, Gas and Other Fuels decreased mainly due to lower mortgage interest repayments, which was partially offset by an increase in the cost of home heating oil.