Ireland Inflation Rate Rises in May


Irish annual inflation rate accelerated for the third straight month to 0.4 percent in May of 2014, from 0.3 percent in the previous month due to higher prices of housing, water, electricity, gas and other fuels.

Cost of housing, water, electricity, gas and other fuels rose 0.7 percent yoy, following a 0.1 percent fall in April of 2014. The most notable changes in the year were increases in education (4.5 percent), miscellaneous goods and services (4.0 percent), alcoholic beverages and tobacco (3.4 percent), restaurants and hotels (+2.2 percent). 

In contrast, there were decreases in communications (-4.7 percent), clothing and footwear (-3.5 percent), furnishings, household equipment and routine household maintenance (-3.2 percent), food and non-alcoholic beverages (-1.9 percent).

On a monthly basis, consumer prices remained unchanged in May of 2014. During May of last year, prices fell by 0.1 percent.  The most significant monthly price changes were increases in restaurants and hotels (+0.7 percent), miscellaneous goods and services (+0.5 percent), recreation and culture (+0.5 percent). There were decreases in transport (-1.5 percent), clothing and footwear (-0.4 percent).

Prices on average, as measured by the Harmonized Index of Consumer Prices, increased by 0.4 percent on an annual basis, and remained unchanged in the month.

Ireland Inflation Rate Rises in May


CSO | Isabel Felino | isabel.felino@tradingeconomics.com
6/12/2014 11:48:40 AM