Inflation slows - Small but welcome

The figures may not provoke gala celebrations, they may not even be believed by motorists trying to pay for ever-more expensive fuel, but they are nevertheless welcome.

Yesterday’s figures from the CSO showing that the annual rate of inflation has slowed to 2.2% must be welcome. The rate stood at 2.5% in December and though the change is marginal, anything that makes us more competitive and facilitates job creation must be welcome. It would be a pity if this progress was squandered because the Government refuses to cut taxes on soaring fuel costs.