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Ireland's inflation hits 38-year high in June

DUBLIN
2022-07-15 01:41

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DUBLIN, July 14 (Xinhua) -- The Consumer Price Index (CPI) in Ireland rose 9.1 percent in June compared with the same period last year, the largest increase in 38 years, the country's Central Statistics Office (CSO) said on Thursday.

The most significant price increases in June were reported in housing, water, electricity, gas and other fuels (up 22.5 percent), and transport (up 20.4 percent), it said.

Electricity and gas prices in June were 40.9 percent and 57.2 percent higher respectively than in June 2021, while year-on-year diesel and petrol prices rose 50.7 percent and 43.8 percent respectively, it said.

Miscellaneous goods and services, and education were the only sectors to show a price decrease when compared with June 2021, according to the CSO.

Commenting on the latest CPI figures, Anthony Dawson, a statistician with the CSO, said that "Prices have been rising on an annual basis since April 2021, with an annual inflation of 5 percent or more recorded each month since October 2021.

"The annual increase in the CPI to June 2022 is the largest observed in 38 years. Annual inflation stood at 9.7 percent in Q2 1984."
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