Irish Inflation Rate Rises To 3-1/2-Year High In March


Irish consumer prices increased by 0.7 percent in the year to March 2017 after rising by 0.5 percent in the previous month. It was the highest inflation rate since July 2013, driven by higher cost for transport, restaurants and hotels and miscellaneous goods and services.

Year-on-year, the biggest upwards contribution came from: Transport (5.3 percent from 3.6 percent in February); restaurants and hotels (2.2 percent from 2.1 percent) and miscellaneous goods and services (2 percent from 2.1 percent). Additional gains came from: Housing, water, electricity, gas and other fuels (1 percent from 1.4 percent in February); alcoholic beverages and tobacco (0.5 percent from -0.1 percent); and health (inflation steady at 1.7 percent). By contrast, cost continued to drop for: Food and non-alcoholic beverages (-2.6 percent, the same as in February); recreation and culture (-2.4 percent, the same as in February); and clothing and footwear (-3.8 percent from -2.5 percent).

Annual core inflation, which excludes energy and unprocessed food, was recorded at 0.2 percent.
  
On a monthly basis, consumer prices grew by 0.6 percent, the same as in the previous month. The most significant monthly price changes were increases in transport (2.1 percent) and clothing and footwear (1.9 percent). There were decreases in alcoholic beverages and tobacco (-0.3 percent) and housing, water, electricity, gas and other fuels (-0.2 percent).

The harmonized index increased by 0.6 percent compared to a year earlier and by 0.6 percent in the month.

Irish Inflation Rate Rises To 3-1/2-Year High In March


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/13/2017 10:16:56 AM