"According to the Consumer Price Index (CPI), inflation rose by 0.3 percentage points from October, when an annual increase of 2.9pc was recorded. The previous peak in the CPI, in February 2024, was 3.4pc. The divisions with the largest price rises in the last 12 months were education, up almost 9pc due to an increase in third-level fees that took effect in October, and clothing and footwear, up by 4.4pc."
"Some of that is being driven by base effects as energy prices were falling sharply last year, but pump prices rose strongly again in November as firms continue to pass on the latest increase in the carbon tax to consumers. Airfares also surged to -0.7pc from -7pc, despite falling on the month as last year's huge drop in prices wasn't repeated this month. That helped to drive services inflation up to 4pc, the highest since March 2024."
Annual CPI inflation reached 3.2% in November, up 0.3 percentage points from October's 2.9% and below the February 2024 peak of 3.4%. The largest 12-month increases were education (almost 9% due to third-level fee increases) and clothing and footwear (4.4%). Food and non-alcoholic beverages rose 4.3% and restaurants and hotels rose 3.6%; furnishings, household equipment and maintenance fell 0.6%. Consumer prices decreased 0.2% month-on-month in November, compared with a 0.5% monthly fall in the same month last year. Energy inflation rose to 3.3% year-on-year and services inflation reached 4%, while food inflation eased slightly to 4.3%.
Read at Irish Independent
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