Irish Inflation Rate Rises To 6-Month High


Irish consumer prices increased by 0.3 percent in the year to January 2017, the first rise in six months, after showing no growth in the previous month. It was the highest inflation rate since July last year, driven by higher cost for transport, restaurants and hotels and miscellaneous goods and services.

Year-on-year, the biggest upwards contribution came from: Transport (2.8 percent from 0.5 percent in December); restaurants and hotels (2 percent from 1.9 percent) and miscellaneous goods and services (2 percent from 2.2 percent). Additional gains came from: Housing, water, electricity, gas and other fuels (1.3 percent from 0.8 percent in December); and health (1.3 percent from 1.2 percent). By contrast, cost continued to drop for: Food and non-alcoholic beverages (-2.4 percent from -2.8 percent in December); recreation and culture (-2.3 percent from -2.1 percent); and clothing and footwear (-2.6 percent from -3.8 percent)
  
On a monthly basis, consumer prices declined by 0.5 percent, after showing no growth in December. The most significant monthly price changes were decreases in clothing and footwear (- 9 percent) and furnishings, household equipment and routine household maintenance (-3 percent). There were increases in alcoholic beverages and tobacco (1.5 percent) and food and non-alcoholic beverages (0.4 percent).

The harmonized index increased by 0.2 percent compared to a year earlier and fell by 0.5 percent in the month.

Irish Inflation Rate Rises To 6-Month High


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/21/2017 11:35:56 AM