Prices rise by 5.6% in the year to February 2022
The Consumer Price Index (CPI) rose by 5.6% in the year to February 2022 – up from an annual increase of 5.0% in the year to January 2022, new CSO statistics show.
This is the largest annual increase in the CPI in almost 21 years, when annual inflation also stood at 5.6% in April 2001.
The divisions with the largest increases in the year to February were:
- Transport (+15.4%),
- Housing, water, electricity, gas and other fuels (+12.7%),
- Alcoholic beverages and tobacco (+7.8%).
Education (-0.8%) and miscellaneous goods and services (-0.6%) were the only divisions to show a decrease when compared with February 2021.
Consumer prices rose by 0.9% in the month between January 2022 and February 2022.