Inflation rises again even though fuel costs fell in April

According to new figures from the Central Statistics Office (CSO), the cost of living has increased by a whopping 7.3 percent since April 2021.

Unfortunately, inflation continued to rise even as energy fell in April from its March high.

The Irish Independent reported this week that a new wave of higher food prices is also on the horizon.

Using the standard measure of inflation known as the EU harmonized index of consumer prices (HICP), Ireland is estimated to have risen 7.3 per cent from April 2021 to April 2022, compared with a 7.5 per cent annual increase in the eurozone.

The Indo Daily: Running empty: Why you might soon be rationing your fuel

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Looking at the components of the Flash HICP for Ireland, energy is estimated to be down 1.7% on the month and up 39.1% since April 2021

Inflation is now hovering at levels not seen in more than two decades, well before the Celtic Tiger era.

https://www.independent.ie/business/irish/inflation-spikes-again-even-though-fuel-costs-fell-in-april-41600232.html Inflation rises again even though fuel costs fell in April

Fry Electronics Team

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