Ireland Inflation Rate Rises to 3-Year High in July


Irish consumer prices increased by 0.5 percent on the year in July 2016, following a 0.4 percent gain in the previous month. It was the biggest rise since July 2013, led by increases in prices of miscellaneous goods and services while cost of transportation fell at a slower pace.

Year-on-year, cost of miscellaneous goods and services went up 6.6 percent (from +5.9 percent in June). Additional upward pressure came from: Education (+3.8 percent, the same as in the previous month); restaurants and hotels (+2.8 percent from +2.9 percent in June) and health (+1.9 percent from +2 percent in June). By contrast, cost of transport fell at a slower 3 percent (from -4 percent in June). The biggest decreases were recorded for: furnishings, household equipment and routine household maintenance (-3.6 percent, the same as in the previous month); communications (-1.5 percent from -1.2 percent in June); and housing, water, electricity, gas and other fuels (-1.2 percent from +0.3 percent in June). 

On a monthly basis, consumer prices fell 0.2 percent after rising by 0.7 percent in the previous month. The most significant monthly price changes were decreases in clothing and footwear (-6.1 percent) and housing, water, electricity, gas and other fuels (-1.4 percent). Meanwhile, there were increases in transport (+1.4 percent) and restaurants and hotels (+0.5 percent).    

The harmonized index increased by 0.1 percent compared to a year earlier and fell 0.3 percent in the month.

Ireland Inflation Rate Rises to 3-Year High in July


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/11/2016 11:17:47 AM