Inflation goes haywire

According to figures released by the Central Statistics Office (CSO) this week, the June annual inflation rate surpassed the highest-ever annual inflation figure of 14.2 percent in April 2006. 

The June rate is ascribed mainly to soaring costs in the Transport index. Five group indices recorded changes of more than 1.0 percent between May and June, which include transport (8.2 percent), food (2.5 percent), housing, water, electricity, gas & other fuels (2.1 percent), furnishing, household equipment and maintenance (1.8 percent) and clothing & footwear (1.4 percent).