Consumer prices rose 0.6pc year-on-year in September, climbing for the first time in five months, the Central Statistical Office has said. Analysts said the increase had been expected and mainly reflected base effects. ING Bank leading analyst Peter Virovácz said excise duty rises and base effects could raise the 12-month CPI over 1.5pc by the end of December. He put average annual inflation at 0.5pc after minus 0.1pc last year. Gergely Suppan of Takarékbank noted that a rise in the excise duty of tobacco is yet to surface in prices. He said core inflation rose slightly but remained low, reflecting the absence of inflationary pressure despite the steep wage rises. Partly base effect, partly the excise duty rises on fuels and tobacco could lift the October CPI near 1.5pc, Suppan said. Inflation was seen to average 0.5pc this year before rising to 2.1pc in 2017.
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