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Thursday 26 January 2023 Dublin: 6°C
Sam Boal/Photocall Ireland
# Inflation
Inflation rate remains unchanged in November
The cost of living remained unchanged in November, meaning the annual inflation rate is at 2.9 per cent.

THE COST OF LIVING remained unchanged in November, according to data published this morning.

The consumer price index was flat in November, with the annual inflation rate rising to 2.9 per cent, according to data compiled by the Central Statistics Office.

When calculated using the harmonised European formula, the annual increase stands at 1.7 per cent – up from 1.5 per cent last month. This compares to a standardised 3.0 per cent inflation rate in the eurozone.

The main increase in the cost of living last month came from education, where costs rose by 2.1 per cent, while the costs of clothing and footwear (1.5 per cent) and furnishing and household equipment (0.3 per cent) are also up.

The cost of alcohol and tobacco has fallen by 0.6 per cent – though this is set to rise again in December as a result of the increased tobacco excise duty – while the cost of restaurant and hotel accommodation fell by 0.4 per cent.

On an annual basis, housing and utility costs have fuelled the increase – with the costs of living up by 10.6 per cent – with energy products alone up by 13.7 per cent in the last twelve months.

The cost of education has risen by 8.9 per cent in the last year, while the cost of food and non-alcoholic drinks – which is unchanged this month – is up by 1.6 per cent over the year.

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