Annual inflation rate highest in three years

Annual inflation rate highest in three years
Motor insurance prices up 38 per cent in past year Picture: Fergal Phillips

Insurance big factor in price rises over past 12 months

Official figures show that consumer prices fell in July, the first monthly drop since January, though the annual rate of inflation crept up to its highest level in three years.

The Central Statistics Office said prices fell by 0.2 per cent from June, as sales brought clothing and footwear prices down. The suspension of water charges and lower mortgage interest repayments were also factors in the monthly drop, though these were partly offset by increases...

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