Rise in the cost of wine and cigarettes as inflation rate steady at 0.7pc

Consumer prices rose by 0.7pc in October when compared with a year earlier, according to figures from the Central Statistics Office (CSO).

Motor insurance premiums were up by 10.8pc in the month when compared with a year previously.

Home insurance rates were 7.6pc higher, according to the CSO consumer price index, which is the official measure of inflation in this country.

Health insurance costs are up by 10.4pc in the year after a string of price rises from VHI Health, Laya Health and Irish Life Health.

Wine was 1.4pc more expensive when compared with last year, with cigarettes prices rising by 9.2pc, the CSO found.

The rate of inflation may be under 1pc, but consumers are still paying elevated prices for goods and services after two years of rapid cost increases.

And the Government is worried another cost-of-living crisis could be on the horizon after Donald Trump secured a second term in the White House.

There is a fear in Government circles that if Mr Trump pulls support from Ukraine,…

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Independent.ie