Oliver Mangan: No relief in sight from high energy costs

The role of higher energy costs remains critical in terms of the surge in inflation, writes Oliver Mangan.

Wholesale gas prices remain elevated. File image.

The drop in the Irish inflation rate to 5% in January from 5.5% in December will prove short-lived.

It is largely down to a base effect as there was little of the usual winter sales in January last year, owing to the economy being in lockdown.