Irish Consumer Prices Post First Rise Since November 2014


Consumer prices in Ireland increased for the first time in more than one year by 0.1 percent following a 0.2 percent drop in the previous month and beating market expectations of 0.1 percent fall. Cost of housing and utilities pushed the inflation up while prices of transportation, furnishings and food declined at a slower pace.

Year-on-year, prices of housing and utilities increased by 2.1 percent following a 1.3 percent growth in November. Additional upward pressure came from: Miscellaneous goods and services (+2.6 percent from +2.3 percent in the previous month) and restaurants and hotels (+1.6 percent from +1.4 percent). By contrast, cost of transportation (-4.3 percent from -5.3 percent in the previous month), furnishings and household equipment (-1.5 percent from -2.3 percent) and food and non-alcoholic beverages (-1 percent from -1.3 percent) dropped at a slower pace. 

On a monthly basis, consumer prices decreased slightly by 0.1 percent, easing from a 0.2 percent drop in the previous month. The biggest price decreases were reported for: Alcoholic beverages and tobacco (-1.6 percent) and transport (-0.3 percent). Meanwhile, there were increases in miscellaneous goods and services (+0.5 percent) and furnishings, household equipment and routine household maintenance (+0.4 percent).   

The harmonized index increased by 0.2 percent compared to a year earlier while declined by 0.1 percent in the month.

The annual average rate of inflation in 2015 was recorded at -0.3 percent. This compares to a rise of 0.2 percent for 2014, 0.5 percent for 2013 and 1.7 percent for 2012.

Irish Consumer Prices Post First Rise Since November 2014


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/14/2016 12:03:56 PM