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THE LATEST INFLATION figures show a slight increase in prices of just 0.4% in June compared to June 2013.
However, when ECB rate cuts are excluded from the data, annual inflation rises from 0.6% in May to 1% over June and service price inflation increases from 3.1% to 3.3% respectively – the fastest rate of growth since September 2012.
The CSO data shows that on average, according to the Harmonised Index of Consumer Prices, prices were up 0.5% last month compared to June 2013.
The highest increases were recorded in education costs (up 4.5%), restaurants and hotels (up 2.2%) and insurance (up 6.6%), while there were falls in prices for clothing and footwear (down 3.4%), food and non-alcoholic drinks (down 2.4%) and communications (down 4.7%).
Mortgage interest costs dropped 10% in the year to June, up slightly on the 9.4% recorded in the year to May.
Meanwhile, goods inflation fell 1.7% (compared with a 1.8% drop in May). Davy Research says that this deflation reflects a slight energy price increase for a second consecutive month in June, while weak import prices are helping to hold the prices of other goods.
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Whats going on with motor and health insurance? They are increasing that by huge amounts for no reason! Its a joke. Motor insurance seems to be to be adding more to premiums every year and blame it on something.
Greed in a small market with very little competition
I dont know, but, might it be to do with premium matching for males & females?
The healthiest people are dropping their health insurance because of squeezed incomes and the average costs are going up as the pool of people become sicker/older on average. The insurance company has to increase prices which leads to more young/healthy dropping out, and so on and so on.
Rip off Ireland raised it’s ugly head again last night at Macklemore concert, daughter said burgers cost €6 (cold burger at that), chips €5 and carton noodles €8. Luckily she had sense to eat beforehand, she still paid €6 for glass Heineken though!
Those prices are normal at concerts, unfortunately. Have been for years.
So that makes it a normal rip off
hotels and restaurants got to keep the v.a.t cut in the last budget to help boot tourism, and then go and raise prices by up to 2.2 % as well ! rip off ireland is about to boomerang back ! saying that did it ever go away?
have your say