Inflation on rise

By Andrew Bushe

DUBLIN — Ireland’s inflation rate has shown its lowest monthly increase for 15 months and is now 2.9 percent a year, according to figures released by the central statistics office this week.

Prices rose by 0.1 percent in October, mainly due to increased education fees and energy costs. During the month, the cost of food, household goods and transport all dropped.

Annual inflation peaked in August at 3.2 percent, the highest since May 1992. According to the CSO, Ireland had the highest rate of inflation of the 11 European Monetary Union countries in the year to September.

The 2.8 percent annual rate was almost triple the average of 1 percent.