Annual rate of inflation hits 5.5% in December - CSO

On an annual basis, today's figures show that diesel prices rose by 36%, while petrol prices increased by 32% and airfares were up 66%.Private sector rents were up 8.4%, today's figures show.

Prices were still falling on an annual basis until February. That contributed to the fact that overall, the average annual inflation for 2021 was 2.4%.Energy products rose on average by 12.3% last year compared to a fall of 5% in 2020. The price of goods went up an average 1.5% in 2021 compared to a fall of 2.2% in 2020.

Housing, Water, Electricity, Gas and other fuels showed the largest increase over this period, going up by 14%. But there was 12.4% decrease in the price of Communications and a 4.2% decrease in Food and Non-Alcoholic beverages.

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