Annual rate of inflation in April increases to 5.6%

Irish annual inflation increased to 5.6 per cent in April helped by rising prices for alcohol, the Central Statistics Office reported this morning.

According to the CSO's report the Consumer Price Index - which measures the average price paid for consumer goods and services - climbed by 0.9 per cent. This follows an 0.8 per cent rise in March.

The March inflation figure was 5.4 per cent. Irish inflation has eased from a 16-year high of 7 per cent last November despite increases in the last three months.

Prices for alcohol grew by 1.5 per cent in April compared to the previous month.

Food prices also increased significantly - up 1.4 per cent in part due to the impact of foot-and-mouth. Transport and housing costs also increased. They were up 1.1 per cent and 0.4 per cent respectively.

During the 12 months(April 2000 to April 2001) housing increased by 23.5 per cent, food prices by 7.7 per cent and alcohol costs rose 5.6 per cent.

Clothing and footwear prices fell by 4.6 per cent.

The EU harmonised index of consumer prices was up 0.8 per cent in April resulting in an annual rate of 4.3 per cent. This is up 2.5 per cent since January 2001.