Current inflation rate – Feb 08

CPI annual inflation on the rise as utility bills exert upwards price pressure.

By News Desk
18th March 2008 at 15:38

The latest consumer prices index (CPI) figure for annual inflation shows a significant rise in February 2008, up to 2.5% from 2.2% in January this year.

The most significant upward price pressure came from rises in gas and electricity prices, accentuated a little by changes to the way pricing in this sector is recorded.

Other small upward effects included rises in alcohol and tobacco prices as well as the cost of DVDs and other pre-recorded media.

Retail price inflation remained unchanged in February 2008 compared to the previous month at 4.1%.  This stability is largely attributed to a significant downward price pressure exerted by smaller increases in mortgage interest payments than a year ago.

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