Ireland : Annual Inflation increases to 4.8% in October

Consumer Prices in October, as measured by the CPI, increased by 0.1% in the month. This compares to no change in October of last year. The annual rate of inflation increased slightly to 4.8%, up from 4.6% in September 2007.
The EU Harmonised Index of Consumer Prices (HICP) also rose by 0.1% in the month, compared to no change in October 2006. The annual rate of inflation, as measured by the HICP, increased from 2.9% in September to 3.0% in October.
There were decreases in Clothing & Footwear (-3.5%) and Furnishings, Household Equipment
& Routine Household Maintenance (-2.3%). The annual rate of inflation for Services was 7.3% in October, while Goods increased by 2.1% in the year.
The most significant monthly price changes were increases in Education (+3.9%). These were partially offset by decreases in Transport (-0.6%), Clothing & Footwear (-0.6%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.6%).
The main factors contributing to the monthly change were as follows:
• Education rose due to higher costs for third level tuition and third level maintenance.
• Clothing & Footwear and Furnishings, Household Equipment & Routine Household Maintenance fell due to mid-season sales.
The CPI excluding energy products index was up 0.2% since September and increased by 4.7% in the year. The CPI excluding mortgage interest increased by 0.1% in the month and rose by 2.8% in the year.