Annual inflation holds steady at 2.6%

The annual rate of inflation remained steady at 2.6 per cent in the year to May, the same level noted in April.

Figures from the Central Statistics Office (CSO) showed transport saw the highest rate of inflation over the 12-month period, with prices increasing by 6.7 per cent, followed by the restaurant & hotel sector (+4.7 per cent).

The CSO said rises in the price of diesel and petrol were behind increased transport costs, having jumped by 17.5 per cent and 14.5 per cent respectively.

Graphic: Central Statistics Office

On a monthly basis, prices at hotels and restaurants rose by 1.5 per cent from April to May, as transport costs increased by 1.4 per cent.

Clothing and footwear, and furnishings, household equipment & routine household maintenance were the two sectors which recorded price declines over the year, falling by 6.3 per cent and 1.4 per cent respectively.

The latter also noted a marginal monthly decrease from April (-o.2 per cent), joined by the alcoholic beverage and…