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CSO report highlights rise in the cost of gas and electricity

Despite an overall 0.1% decrease in consumer prices, the cost of electricity, gas and other fuels increased over the past year

The cost of housing, water, electricity, gas and other fuels increased by 1.5% since June 2014.

According to the latest figures from the Central Statistics office, this annual increase in prices can be attributed to higher rents and the introduction of water supply and sewage collection charges, which was partially offset by lower mortgage interest repayments and a decrease in the cost of home heating oil.

Despite the annual increase, the month of June saw a 0.4% decrease in the price of housing, water, electricity, gas and other fuels.

June prices fell mainly due to lower mortgage interest repayments and a decrease in the cost of home heating oil, which was partially offset by higher rents.

Overall, consumer prices in June were 0.3pc higher than in May.

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