THE UPWARD MARCH in prices for alcohol, cigarettes and costs related to education is showing no sign of slowing down, new figures from the Central Statistics Office show.
The figures are contained in today’s Consumer Price Index, and show education as the highest climber, with prices 4.5 per cent higher than this time last year.
The overall rate of increase in the CPI is 0.3 per cent in the year, and 0.1 per cent month on month.
Alcohol and tobacco are 3.7 per cent up on 2013, with restaurants and hotels up two per cent.
Decreases
Large decreases were posted in clothing and footwear (down 3.7 per cent), communications (3.3 per cent) and for furnishings, household equipment and routine household maintenance (3.1 per cent).
Food and non-alcoholic beverages came down 2.1 per cent.
State costs
In a statement, the Irish Small and Medium Enterprises Association said that the costs imposed by the state on doing business are climbing more quickly than the rate of inflation, putting pressure on SMEs.
Business owners are continuously hit with excessive state-administered or influenced costs, such as energy, transport, rates and local charges which make it difficult to keep the business profitable.
“Government should be actively reducing these excessive costs so that our indigenous businesses have a fair chance to prosper and expand.”
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