Ireland Inflation Rate Slows to 0.4% in December

Irish consumer prices increased 0.4 percent year-on-year in December of 2017, easing from 0.5 percent in the previous month. Prices rose less mainly for restaurants and hotels and housing and utilities and continued to fall for food.

Year-on-year, prices went up at a slower pace for restaurants and hotels (2.5 percent compared to 2.6 percent in November); housing and utilities (3.6 percent compared to 3.7 percent) and health (1.0 percent compared to 1.2 percent). In addition, cost declined further for food and non-alcoholic beverages (-1.5 percent compared to -1.2 percent); miscellaneous goods and services (-1.3 percent compared to -0.9 percent); furnishings and household equipment (-3.7 percent compared to -3.4 percent) and clothing and footwear (-3.9 percent compared to -3.5 percent). Meantime, prices advanced at a faster pace for transport (1.3 percent compared to 0.9 percent) and rebounded for alcoholic beverages and tobacco (1.0 percent compared to -0.2 percent). Also, inflation was steady for education (1.6 percent, the same pace as in November).

Annual core inflation rate, which excludes energy and unprocessed food, declined to 0.2 percent from 0.1 percent in November.

On a monthly basis, consumer prices went decreased 0.1 percent, after a 0.2 percent drop in November. The most significant monthly price changes were increases in transport (0.1 percent) and housing and utilities (0.1 percent), while there were decreases in clothing and footwear (-0.1 percent) and food and non-alcoholic beverages (-0.1 percent).

The harmonized index remained unchanged compared to the previous year and the previous month, at 0.5 percent and -0.1 percent respectively.

Ireland Inflation Rate Slows to 0.4% in December

CSO | Stefanie Moya |
1/16/2018 11:33:29 AM