Record fall in cost of living

The cost of living fell over the last year at a rate not seen since the 1930s, official figures reveal.

According to the Central Statistics Office, inflation was down 2.6% as transport, fuel and clothing costs all plummeted.

Inflation is now at its lowest level since the third quarter of 1933.

Last month homeowners continued to benefit from falling mortgage repayments and a decrease in oil prices, as electricity and gas charges both dropped.

However clothing prices jumped following the January sales, while transport charges were also up.