The war in Iran pushed inflation in the Irish economy to 3.7 per cent last month, its highest level in almost two years, according to the Central Statistics Office (CSO).
The biggest drivers of the increase were transport fuels and home heating oil which rose on the back of higher oil prices internationally.
The latest consumer price index (CPI) the State’s official measure of inflation, indicated diesel and petrol prices increased by 26.1 per cent and 9.2 per cent respectively on an annual basis in April while home heating oil was up by a whopping 80.4 per cent.
Housing, water, electricity, gas and other fuels, which encompasses home heating oil, was the biggest single component of inflation, accounting for 1.27 per cent of the 3.7 per cent recorded in April.
Private housing rents were also up by 4.1 per cent in the 12 months to April while average mortgage interest payments rose 6.8 per cent.
