Inflation rise to 5.1% ‘unacceptable’

IRELAND’S inflation rate at 5.1% is unacceptably high and damaging competitiveness, according to some of the country’s leading economists and business groups.

The latest consumer price index (CPI) shows the headline inflation rate standing at 5.1% in April, the same as in March. Headline prices were up 0.8% in the month in April, the same increase as in April last year.

The inflation figure compares with 4.8% in February, and a six-year high of 5.2% in January.