Inflation rate at 2.6% for the first 11 months of the year according to the CSI today.
Falls in non-essentials of up to 21% and steep rises in food, fuel and health costs.
Food prices rose because of strong increases in the cost of a wide range of staples, including butter (+9.6 per cent), eggs (+6.9 per cent), cheese (+5.4 per cent), beef (+5.3 per cent) and breakfast cereals (+5.0 per cent). Shelter was also more expensive, driven by higher mortgage costs (+14.1 per cent) and a slight increase in rents (+1.5 per cent). The cost of light and heating jumped 11.2 per cent and motor fuels were nearly 7 per cent higher. Higher hospital charges (+9.8 per cent) and education costs (+8.9 per cent) also hit many hard-pressed households, as did a very sharp increase in health insurance costs (+22.9 per cent).
SixOne reporting that the CSO is changing the way it incorporates mortgage interest into the Consumer Price Index. Heretofore only changes to standard rate variable rates were used but now there will be a weighted average of various products including fixed and trackers.
The effect of that will be to keep down the CPI if (when) mortgage rates rise. Is it cynical to wonder if there's been government pressure to make this change?
Well it is the CSO after all.
A branch of the public sector, so who defines the terms of reference when it comes to compiling these statistics?
Well, the CSO may have a point, given that in April last year 54% of mortgages were trackers.
Local garage had petrol at 1.61.9 on Monday. Today it went to 1.63.9
Two cents in four days?
Around 10 days ago it was 1.59.9.
A couple of years ago it dipped under a euro per litre. Or did I just imagine that?
Historical fuel prices (PDF)
All the way back to 2001.
I dropped out of communism class because of lousy Marx.
fuel was 164.8 at our local station yesterday. And it's usually one of the cheaper ones. Food seems to have taken a massive hike recently as well, the shopping bills that were 120-150 yoyos a year ago are now heading for 200.
There should be drop of 8 to 10 cents in the price of a litre of petrol, according to David Murphy on RTE.
Crude oil prices have dropped to $92 a barrel and this should be reflected at the pumps soon.
Inflation at 2% in the year to August.
Transport and education are up most.
"This isn't working,
My middle-brow f**ker"