Irish inflation was at its highest level since 2007 last month, with prices rising 5.1% from 3.7% in September, following sharp rises in energy and transport costs.
The increase of 15.4% in transport costs and 10.8% in electricity, gas and water, represented the largest increases on an annual basis.
Overall prices were 0.7% higher on a monthly basis, which is the largest monthly increase in seven months.
The finance ministry forecast last month that inflation would average 4.5% in the last quarter, before falling below 2% next year.
However, he stressed that the rate could be lower, at 3.5%, during 2022, if there were higher energy prices, prolonged supply chain problems and greater short-term economic demand.
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Source From: Capital
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