Inflation eased to 5% in January for first time in 14 months
Petrol and diesel prices rose by 29.5 and 32 per cent
Annual inflation eased back to 5 per cent last month after a 20-year high in December, according to figures released today by the Central Statistics Office.
Consumer prices in January decreased by 0.4 per cent month-on-month. This is the first monthly decrease following 14 months of rising prices. Prices have been rising on an annual basis since April 2021, with annual inflation of 5 per cent or more each month since October, and a record ...