Consumer prices rise 1.1% between February and March via IrishTimesBiz
The largest annual increases were seen in the costs of housing, water, electricity, gas and other fuels. Photograph: Bryan O' Brien/The Irish TimesConsumer prices continued to rise in March, rising 7.7 per cent year on year, as high costs continued to squeeze Irish consumers.
That was down from 8.5 per cent in February, and 7.8 per cent in January. Inflation has now stayed at 5 per cent or more for 18 months in a row. Prices increased at the slowest annual pace since April last year. According to the consumer price index , prices were 1.1 per cent higher on average between February and March, down from 1.6 per cent the prior month. Before February the CPI had fallen for three consecutive months.
The largest annual increases were seen in the costs of housing, water, electricity, gas and other fuels, which rose almost 21 per cent as the high cost of gas and electricity pushed prices higher. In the year to March, electricity prices showed a rise of almost 63 per cent, while gas was just under 86 per cent higher over the year. Rising rents and mortgage interest also piled the pressure on.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US inflation eased to lowest level in nearly two years in MarchUptick in core CPI keeps pressure on Federal Reserve to push ahead with another rate rise in May
Read more »
Cost of living: Annual inflation falls slightly to 7.7%Annual inflation in Ireland for the 12 months up to March 2023 was 7.7%
Read more »
Irish mortgage rates fell surprisingly in FebruaryCentral Bank figures find Ireland had third lowest rates in euro zone but only because savers are subsidising borrowers via IrishTimesBiz
Read more »
Global economy ‘entering perilous phase’ amid ‘much stickier’ inflation - IMFInflation ‘much stickier than anticipated’, while a hard landing is now a much larger risk, outlook report cautions via IrishTimesBiz
Read more »
Four suspected pipe bombs recovered from Creggan cemetery after republican Easter marchThe PSNI has described the discovery as a “sinister and worrying development”.
Read more »
Global economy ‘entering perilous phase’ amid ‘much stickier’ inflation, says IMFThe world economy is “entering a perilous phase”, with global inflation set fall more slowly than expected a few months ago, the International Monetary Fund has warned.
Read more »