Inflation rate dips below eurozone average

THE Irish annual inflation rate has dropped below the eurozone average for the first time since the introduction of the euro in 1999, but oil prices remain a threat.

Increases in household running costs mortgage repayments, energy bills and water charges have pushed up inflation from its lowest levels in five years.

The EU Harmonised Index of Consumer Prices (HICP) for Ireland increased by 0.3% in the month. The EU index does not include mortgage payments.