Ireland September Inflation Rate Rises to 0.9%


Ireland's annual inflation rate rose to 0.9 percent in September 2019 from 0.7 percent in the previous month, driven by higher prices of housing & utilities, restaurants & hotels, and recreation & culture.

The largest upward contribution to the CPI came from: housing, water, electricity, gas & other fuels (3 percent from 2.9 percent in August) mostly due to higher rents and mortgage interest repayments in addition to an increase in the price of gas; restaurants & hotels (2.3 percent from 2 percent) primarily due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc; recreation & culture (1.3 percent from 1.1 percent); miscellaneous goods & services (1.3 percent from 1.2 percent) mainly due to higher health insurance premiums and higher prices for hairdressing salons and personal grooming establishments; and alcoholic beverages & tobacco (at 3.1 percent, the same as in August) due to higher cost of tobacco products.

On the other hand, cost dropped further for food & non-alcoholic beverages (-0.8 percent from -0.3 percent) due to lower prices across a range of products such as milk, cheese & eggs and sugar, jam, honey, chocolate & confectionery; communications (-6.7 percent from -6.3 percent) due to a reduction in the cost of telephone & telefax equipment and telephone & telefax services; clothing & footwear (-1.7 percent from -1.6 percent) due to sales; and transport (-0.4 percent from -0.3 percent). 

Annual core inflation, which excludes energy and unprocessed food, went up to 1 percent in September from 0.9 percent in August.

On a monthly basis, consumer prices declined 0.2 percent in September, after rising 0.5 percent in the prior month, as prices fell for transport (-2.6 percent), food and non-alcoholic beverages (-0.9 percent) and communications (-0.6 percent).

The harmonized index of consumer prices advanced 0.6 percent from the previous year (the same as in August); while declined 0.3 percent month-over-month (vs 0.4 percent in August).

Ireland September Inflation Rate Rises to 0.9%


CSO | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/10/2019 10:38:42 AM