SFA blames inflation hike on government-controlled costs

Increases of 14% in government-controlled costs including housing, water, electricity, gas and other fuels, are chiefly to blame for the recent inflation rate jump, according to the Small Firms Association (SFA).

SFA director Patricia Callan has said that the inflation figure for May of 3.9% is bad news for the economy and the reduction of the inflation rate to the Government target of 2% has become an economic imperative.