Rip-off image could get much worse

DRAMATIC changes in the cost, pace and style of life in Ireland are revealed in the latest statistics showing that Ireland’s annual rate of inflation climbed to 5.2% in January, the highest level in six years.

Confirming the findings of a series of Irish Examiner investigations, aside from the impact of post-Christmas sales, prices have increased across the board.

Driving up the inflationary graph, there were increases in the cost of housing, mortgage interest repayments, electricity, gas and other fuels.

Some fascinating trends are reflected in the Central Statistics Office’s nationwide shopping basket containing 600 items.

Out — two piece suits, ladies’ raincoats, bottled gas, kitchen tables, streaky rashers and synthetic carpets.

In — more fashionable items such as champagne, fake tans, and surround sound cinema. The Walkman has been replaced by MP3 players.

By any yardstick, an inflation rate above 5% is worrying. If prices continue to rise, Ireland’s rip-off image will get even worse.