Irish Inflation Rate Hits The Highest Level In 7 Months


Irish consumer prices increased 0.5 percent year-on-year in February of 2017, following a 0.3 percent rise in the previous month. It is the highest inflation rate since July last year, boosted by prices of transport, restaurants and hotels and miscellaneous goods and services. On a monthly basis, consumer prices went up 0.6 percent after a 0.5 percent decline in January.

Year-on-year, main contributors to the rise were: transport (3.6 percent vs 2.8 percent in January); restaurants and hotels (2.1 percent vs 2 percent) and miscellaneous goods and services (2.1 percent vs 2 percent). Additional upward pressure came from: housing, water, electricity, gas and other fuels (1.4 percent vs 1.3 percent) and health (1.7 percent vs 1.3 percent). In contrast, cost continued to fall for: food and non-alcoholic beverages (-2.6 percent vs -2.4 percent), recreation and culture (-2.4 percent vs -2.3 percent) and clothing and footwear (-2.5 percent vs -2.6 percent).

On a monthly basis, consumer prices went up 0.6 percent, following a 0.5 percent drop in January. The most significant monthly price changes were increases in clothing and footwear (6.4 percent) and furnishings, household equipment and routine household maintenance (1.5 percent). There were declines in food and non-alcoholic beverages (-0.9 percent) and alcoholic beverages and tobacco (-0.8 percent).

The harmonized index increased 0.3 percent compared to a year earlier and rose 0.5 percent in the month.

 Irish Inflation Rate Hits The Highest Level In 7 Months


CSO |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/15/2017 11:45:51 AM