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The Consumer Price Index rose by 8.7% in the year to August. Shutterstock/Daniele Mezzadri
Cost of Living
Annual inflation eases slightly from last month's 38-year high
Home heating oil was up 72.9% in the year to August.
ANNUAL INFLATION EASED slightly in August and has slowed down for the first time in seven months.
The CSO’s latest Consumer Price Index revealed that prices for goods and services rose by 8.7% in the year to August.
That compares to the 38-year highs of 9.1% that were seen in the months of June and July.
Meanwhile, there was a monthly change of 0.2%.
Annual Changes
Significant year-on-year increases were seen in energy costs, with electricity up 38.1%, gas up 56.1%, and home heating oil up 72.9%.
There has also been an annual increase of 34.6% in the cost of diesel and 23.5% in the cost of petrol.
Six energy suppliers have announced price increases recently, and Taoiseach Micheál Martin said last week that energy prices are “off the Richter scale” compared to last year.
The CSO figures also reveal yearly increases of 8.8% for food and non-alcoholic Beverages, while alcoholic beverages and tobacco have seen rises of 8.0%.
Car prices have also gone up by 11.3% and airfares have seen a 34.2% rise when compared to August 2021.
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