As inflation slides 0.3% rents continue to increase

Rents continued to soar last month, even as the cost of almost all other goods and services fell.

CSO cost of living figures published yesterday showed that overall inflation fell 0.3% in the month asthe cost of a wide range of products and services, including transport, restaurants, and hotels, fell.

Alcoholic beverages and tobacco prices however rose following budget measures, while clothing and footwear prices were slightly higher due to the end of seasonal discounting.

In the year, also led by lower transport prices, as well as cheaper clothing, furnishings and food, the CSO index fell 0.2%.

However, education and communications and restaurants and hotel prices rose over the year.

The cost of rents stood out again.

The CSO figures show that landlords hiked rents an average 0.4% across the State in the month.

Rents are therefore 10% more expensive than in November 2014.

At the same time, public authorities have held or slightly reduced their rents over the past year.

Meanwhile, the costs of mortgage interest payments continued to fall by 0.5%, in the latest month.

That means mortgage costs are 8.6% lower than in November 2014.

The cost of car insurance receded by 1.8% in November but it remained 26.6% more expensive in the last 12 months.

And November is likely to be only a respite, as brokers and many otherindustry players have warned of more hefty hikes to come.