Inflation, measured using the EU's Harmonised Index of Consumer Prices (HICP), is estimated to have increased to 9.5pc in the year to October 2022, according to new figures from the Central Statistics Office (CSO). The pace of price rises had slackened in recent months but the advent of winter heating bills at new higher prices announced over the summer and now in effect has tightened the already bruising squeeze on households. The so called flash estimate of inflation in October is up on recent months but short of the double digit price rises now seen in much of Europe. Read MoreHICP inflation had been running at 8.6pc in Ireland in the 12 months to September 2022. In October energy prices are estimated to have increased by 13.6pc in the month and are up by almost by a half since October 2021.

Source: Irish Independent October 29, 2022 05:56 UTC