Irish Consumer Prices Unchanged In December


Irish consumer prices remained unchanged in the year to December 2016, following a 0.1 percent drop in the previous month, as a decline in prices of food, furnishings and clothing was enough to offset a rise in cost of restaurants and hotels, miscellaneous goods and services, and housing.

Year-on-year, the biggest downward pressure came from: Food and non-alcoholic beverages (-2.8 percent from -2.4 percent in November); furnishings, household equipment and routine household maintenance (-4.8 percent from -4.3 percent); and clothing and footwear (-3.8 percent from -2.8 percent).By contrast, cost increased for: Restaurants and hotels (+1.9 percent, the same as in November); miscellaneous goods and services (+2.2 percent from +2.5 percent); and housing and utilities (+0.8 percent from +0.2 percent).
  
On a monthly basis, consumer prices were also unchanged, following five consecutive months of falls. The most significant changes were decreases in restaurants and hotels (-0.7 percent) and food and non-alcoholic beverages (-0.4 percent). There were increases in alcoholic beverages and tobacco (+0.9 percent) and clothing and footwear (+0.7 percent). 

In the full year 2016, the average CPI showed no growth, following a 0.3 percent drop in 2015.

In December, the harmonized index decreased by 0.2 percent compared to a year earlier and by 0.1 percent in the month.

Irish Consumer Prices Unchanged In December


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/19/2017 11:25:38 AM