Price hikes on the cards this winter as inflation reaches highest level in 14 years

High rents and fuel costs push price increase rate to 14-year high.

People are facing further price hikes this winter as sky-rocketing home heating and lighting bills, petrol and diesel, and rental costs drive inflation to its highest for more than 14 years.

New CSO figures for October, showing the rate of increase in consumer prices at 5.1%, have revived concerns that Ireland, which already has some of the highest price levels in Europe, faces further inflationary pressures as the economic recovery continues to surge.