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Irish inflation hits 13-year high of 3.7%, house prices soar

Thu, 14th Oct 2021 11:01

DUBLIN, Oct 14 (Reuters) - Irish annual consumer price
growth rose to a 13-year high of 3.7% in September, while house
price inflation continued to climb at three times that rate,
jumping 10.9% in August, Central Statistics Office data showed
on Thursday.

Sharply higher transport (+11.4%) and housing, electricity,
gas, water and other fuel costs (+9.0%) drove the increase in
consumer prices with all major categories bar clothing and
footwear (-3.0%) up year-on-year.

Ireland's finance ministry forecasts that inflation will
peak at 4.5% in the final quarter before falling back below 2%
next year. However, it said the average rate could be closer to
3.5% in 2022 if there are higher energy prices, prolonged global
supply chain disruptions and greater short-term economic demand.
(Reporting by Padraic Halpin; Editing by Toby Chopra)

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