Good news for consumers as inflation falls to lowest in five years

THE cost of living is getting cheaper with inflation falling to its lowest level in almost five years, new figures from the Central Statistics Office (CSO) show.

Inflation fell from 1.7% to 1.3% in March with falls in the costs of clothing, motor insurance and mortgage interest, leading the consumer price index lower.

The rate is the lowest since July 1999 and less than half of what it was a year ago. According to economists, inflation will remain low over the next couple of months, though it will rise by the end of the year.