The cost of insuring your car has risen by 11 percent in the last year, according to new figures from the Central Statistics Office. The cost of buying a car has also risen in the past 12 months, however the average price of petrol and diesel has fallen by nearly 10 percent. Car insurance premiums have been rising month on month and now stand at 15 times the rate of inflation.
The CSO figures also reveal that over the last 12 months, the average price of butter has risen by nearly 50 percent, the price of a bag of potatoes has risen by 31 percent, while cheese has risen by nearly 10 percent.
Business Editor Joe Lynam says people need to shop around when insuring their car: "A lot of consumers will say well, this is am incredible mis-match; I've been told pro9ces are barely rising year on year but, when they go to renew their vehicles they will notice a jump in the cost of insurance."
