Irish inflation creeps upwards to 2.4%
{{date|June 11, 2005}}
[[Image:Artic.lorry.arp.750pix.jpg|thumb|right|250px|The cost of transport is rising because of petrol price increases]]
The inflation rate in [[Ireland]], as measured by the [[w:Central Statistics Office|Central Statistics Office]] (CSO), edged upwards to hit a five month high in May at 2.4%. This represents a 0.2% rise on the previous month when the rate stood at 2.2%.

The major contributors to the rise were increased transportation, healthcare, and education costs. In April the [[w:EU25|EU25]] average rate of inflation was 2.1%, with [[w:Latvia|Latvia]] having the highest rate at 7.1% and [[w:Sweden|Sweden]] the lowest at 0.4%.

Despite the increase in the rate, Irish inflation remains very low - having hit 7% during 2000 and remaining around the 5% until the beginning of 2003. Another major factor easing any worries about the increase is Ireland's very strong [[w:GDP|GDP]] growth - expected to be around 5.5% this year
[[Image:Jeans.jpg|thumb|left|200px|The cost of clothing and footwear has dropped in the past year]]
On an annual basis the cost of footwear and clothing have fallen by 2.7% whilst energy costs have soared by 10.4%. The cost of food, furniture, and communications also fell over the last 12 months.

The ''Consumer Price Index'' is made up of over 55,000 prices consisting of 613 headings which cover over 1,000 different items.
==See also==

*{{Wikinews|title=Irish inflation back on the rise|date=May 13, 2005}}

==Sources==

*{{source|url=http://www.cso.ie/releasespublications/documents/prices/current/cpi.pdf| title=Consumer Price Index - May 2005 | author= |pub=Central Statistics Office|date=June 9, 2005}}
*{{source|url=http://breakingnews.iol.ie/news/story.asp?j=145683806&p=y456845yz| title=Inflation up to 2.4% in May | author= |pub=Ireland On-line|date=June 9, 2005}}
*{{source|url=http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20050609&ID=4879266| title=Inflation in Ireland Rises to 5-Month High | author= |pub=MSN Money|date=June 9, 2005}}
{{Original reporting}}

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[[Category:Europe]]
[[Category:Ireland]]
[[Category:Economy and business]]
The cost of transport is rising because of petrol price increases
The inflation rate in Ireland, as measured by the Central Statistics Office (CSO), edged upwards to hit a five month high in May at 2.4%. This represents a 0.2% rise on the previous month when the rate stood at 2.2%.

The major contributors to the rise were increased transportation, healthcare, and education costs. In April the EU25 average rate of inflation was 2.1%, with Latvia having the highest rate at 7.1% and Sweden the lowest at 0.4%.

Despite the increase in the rate, Irish inflation remains very low - having hit 7% during 2000 and remaining around the 5% until the beginning of 2003. Another major factor easing any worries about the increase is Ireland's very strong GDP growth - expected to be around 5.5% this year
The cost of clothing and footwear has dropped in the past year
On an annual basis the cost of footwear and clothing have fallen by 2.7% whilst energy costs have soared by 10.4%. The cost of food, furniture, and communications also fell over the last 12 months.

The Consumer Price Index is made up of over 55,000 prices consisting of 613 headings which cover over 1,000 different items.
Europe Ireland Economy and business