Transport and insurance buck falling cost of living

THE cost of living may be plummeting at the fastest rate since the Great Depression but figures reveal the cost of going out, using public transport and insuring your home and car continue to rise.

Central Statistics Office (CSO) figures – which reveal a 16% drop in rental prices and an 11.5% fall in petrol prices – indicate that inflation has fallen by more than 5% over the last year.

An escalating supermarket price war also meant food prices fell by 3.3% in the last year, with discounting at retailers accounting for a 12.4% and 12.2% drop in clothing and shoe prices respectively.