Belfast Telegraph

Thursday 28 August 2014

Cost of living increases by 2.2%

New figures show that the cost of living has increased by more than two per cent in the last year

The cost of living has increased by 2.2% in the last year, official figures have revealed.

Inflation jumped by 1% in March alone. Higher fuel costs pushed up transport prices and, as high street sales were finally wound up, clothing and footwear costs also rose.

Over the course of the year, the consumer price index also recorded significant increases in education, up 9.4%, transport, 7.6%, and alcohol and tobacco up almost 4%.

The Central Statistics Office (CSO) noted that the past 12 months has also seen increases in the cost of electricity, gas, home heating oil and private rents.

Services were hit by the soaring cost of health insurance - with costs in the healthcare sector overall up more than 4% in the last year.

The CSO said the annual rate of inflation for services was 3.3% in the year to March, while goods increased by 1.0%.

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