Bull Market

CONSUMER confidence was dealt another blow with the annualised inflation rate for January rising to 1.7% from 1.3% in December.

Food prices rose by 0.3% last month, while fuel prices rose 2%. Over the past year, petrol prices jumped by 15%, while diesel prices are up by 18%, according to the Consumer Price Index published yesterday by the CSO.

Overall, utility and energy prices rose by 9.6% annually, while transport and communications are up 3.0% and 3.1% respectively. Experts predict further rises in insurance and mortgage rates.