Changing times: Consumer prices rise at the fastest monthly rate in almost three years

RENTS, food and clothing costs are starting to creep higher again as consumer prices rise at the fastest monthly rate in almost three years.

Clothing prices increased significantly last month, rising by 6.6% after the Christmas sales while alcohol prices jumped more than 2%.

According to the latest figures from the Central Statistics Office (CSO) the rate of inflation increased from 1.7% in January to 2.2% last month, the highest rate since November 2008.