Annual consumer price inflation was measured at 5.1% in October, the largest annual increase in prices since April 2007 and the twelfth month in a row to show rising prices.

The latest Consumer Price Index figures show that the largest increases came in transport, where costs rose 15.4%, and housing, water, and fuel at 10.8%.

Restaurants and hotels put up prices by 4.1%, but clothing and footwear prices fell by 2.4%. Transport increased primarily due to higher prices for diesel, petrol and motor cars, an increase in airfares and a rise in the cost of services in respect of personal transport equipment.

Housing, water, electricity, gas and other fuels rose mainly due to higher rents and mortgage interest repayments and an increase in the cost of home heating oil, electricity and gas.

In Association with

Restaurants and hotel prices rose due to higher charges for for alcoholic drinks and food consumed in licensed premises, restaurants, and a rise in the cost of hotel accommodation.

The most notable changes in the year were Transport (+16.0%), Housing and utilities (+12.7%), Communications (+5.1%) and Restaurants & Hotels (+4.2%). 

The sub index for Services rose by 5.2% in the year to October, while Goods increased by 4.4%. Services, excluding mortgage interest repayments, increased by 5.4% in the year since October 2020.

The Harmonised Index of Consumer Prices increased by 0.8% in the month, compared to a decrease of 0.5% in October 2020.

Full details of the CSO's cost of living measure are available here.