The Government Chief Whip has welcomed today's inflation figures which saw the annual rate of inflation fell by seven percentage points to 5.2 per cent in January, according to data from the Central Statistics Office.
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Mr Seamus Brennan
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The price of clothing, footwear and household goods fell as a result of the winter sales. But housing costs increased with higher average mortgage repayments and increased home insurance premiums.
Transport and fuel costs fell after significant reductions in the cost of crude oil products.
Mr Seamus Brennan said the figures were evidence of the positive impact of the reductions in indirect taxes combined with easing external inflationary pressures.
He said: "The Government will continue to monitor inflationary developments closely and, in co-operation with the social partners, will seek to ensure that the positive trends of the last two months are sustained."