Irish Consumer Prices Fall 0.1% in April


Irish consumer prices decreased by 0.1 percent year-on-year in April of 2016, easing from a 0.3 percent drop in the previous month, as cost of transportation and housing fell at a slower pace while prices of miscellaneous goods and services and accommodation rose further.

Year-on-year, transport prices dropped 4.9 percent (from -5.9 percent in March) and cost of housing and utilities declined 0.5 percent (from -1 percent in the previous month). Additional downward pressure came from: Furnishings, household equipment and routine household maintenance (-2.6 percent from -2.5 percent), clothing and footwear (-2.3 percent, the same as in March) and food and non-alcoholic beverages (-1 percent from -0.5 percent). By contrast, cost of miscellaneous goods and services (+4.5 percent from +4.3 percent in March), education (+3.8 percent, the same as in the previous month), restaurants and hotels (+2 percent from +1.7 percent) and alcoholic beverages and tobacco (+1.7 percent from +0.4 percent) pushed inflation higher.  

On a monthly basis, consumer prices went up 0.2 percent, easing from a 0.4 percent growth in the previous month. The most significant monthly price changes were increases in alcoholic beverages and tobacco (+0.9 percent) and restaurants and hotels (+0.7 percent). Meanwhile, there were decreases in furnishings, household equipment and routine household maintenance (-0.5 percent) and communications (-0.4 percent). 

The harmonized index decreased by 0.2 percent compared to a year earlier but rose 0.3 percent in the month.

Irish Consumer Prices Fall 0.1% in April


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/12/2016 11:24:47 AM