Ireland Inflation Rate Flat in May


Ireland consumer prices were unchanged in May of 2016 from the previous year, following a 0.1 percent drop in April and marking the fourth straight month of no growth in consumer prices.

Rises in cost of miscellaneous goods and services (+5.6 percent), education (+3.8 percent), restaurants and hotels (+2.1 percent) and health (+1.6 percent) were offset by falls in prices of transport (-5.3 percent), furnishings, household equipment and routine household maintenance (-3.1 percent), communications (-1.2 percent) and food and non-alcoholic beverages (-1.1 percent).   

On a monthly basis, consumer prices were up 0.5 percent, the biggest rise since March last year. The divisions which caused the largest upward contribution were transport (prices up 1.3 percent) mainly due to an increase in air fares and higher petrol and diesel prices and restaurants and hotels (prices up 0.8 percent) mainly due to an increase in the cost of hotel accommodation and higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. The division which caused the largest downward contribution in the month was alcoholic beverages and tobacco (-0.7 percent) primarily due to lower prices for wine sold in supermarkets and off licences.

The harmonized index fell 0.2 percent year-on-year but increased 0.5 percent on the month. 

Ireland Inflation Rate Flat in May


CSO | Joana Taborda | joana.taborda@tradingeconomics.com
6/9/2016 11:40:21 AM