Ireland Inflation Rate Turns Negative

Irish consumer prices dropped 0.3 percent year-on-year in December of 2014. It is the biggest decrease since June of 2010, due to lower cost of transport, food and clothing.

In the year, the biggest price decreases were reported for: transport (-3.8 percent), furnishings, household equipment and routine household maintenance (-3.1 percent), food and non-alcoholic beverages (-2.6 percent) and clothing and footwear (-2.3 percent). In contrast, customers paid more for: education (+5.0 percent), miscellaneous goods and services (+4.2 percent) and alcoholic beverages and tobacco (+3.0 percent).

In the month, CPI decreased by 0.4 percent. The biggest price falls were reported for: transport (-1.3 percent), alcoholic beverages and tobacco (-1.3 percent) and housing, water, electricity, gas and other fuels (-0.8 percent). There were increases in miscellaneous goods and services (+0.2 percent), clothing and footwear (+0.2 percent) and health (+0.1 percent).

As measured by the EU Harmonised Index of Consumer Prices (HICP), on average prices decreased by 0.3 percent compared with December 2013.

Ireland Inflation Rate Turns Negative

CSO | Joana Taborda |
1/15/2015 3:11:21 PM