Inflation eases in October but still above 5%

Inflation eased slightly in October, but continues to remain a high level, well above the 5 per cent mark.

The Consumer Price Index rose 5.4 per cent in October from last year, due mainly to higher accommodation costs, private road transport and food.

The Department of Statistics said that transport rose 10.5 per cent in October, compared with last year, while housing rose 9.9 per cent. Food was 3.5 per cent more expensive, said the Department of Statistics.

But, in an indication that inflation has already peaked, the pace of price increases has clearly slowed, with the CPI rising just 0.4 per cent in October, comapared with September.