Irish Inflation Rate Eases to 0.2% in January

Consumer prices in Ireland advanced 0.2 percent year-on-year in January of 2018, slowing from a 0.4 percent rise in the prior month. Prices slowed mainly for restaurant and hotels while fell further for food and non-alcoholic beverages.

Year-on-year, cost increased at a softer pace for restaurants and hotels (1.9 percent compared to 2.5 percent in December) and health (0.5 percent compared to 1.0 percent). Additionally, prices decreased for transport (-0.2 percent compared to 1.3 percent). Also, cost declined faster for food and non-alcoholic beverages (-1.7 percent compared to -1.5 percent) and miscellaneous goods and services (-2.0 percent compared to -1.3 percent). Meanwhile, prices rose for recreation and culture (1.6 percent compared to -1.9 percent) and went up at a faster pace for housing and utilities (3.7 percent compared to 3.6 percent); alcoholic beverages and tobacco (2.8 percent compared to 1.0 percent) and communications (0.6 percent compared to 0.1 percent). In addition, cost fell less for furnishings and household equipment (-3.0 percent compared to -3.7 percent) and clothing and footwear (-3.1 percent compared to -3.9 percent), while inflation was steady for education (1.6 percent, the same pace as in December).

Annual core inflation rate, which excludes energy and unprocessed food, decreased to 0.2 percent, unchanged from the previous month.

On a monthly basis, consumer prices went down 0.7 percent, after a 0.1 percent decline in December. The most significant monthly price changes were decreases in clothing and footwear (-8.2 percent); transport (-1.3 percent); restaurant and hotels (-0.9 percent) and while there were increases in alcoholic beverages and tobacco (3.3 percent) and communications (0.9 percent).

The harmonized index rose by 0.3 percent compared to a year earlier and fell by 0.7 percent in the month.

Irish Inflation Rate Eases to 0.2% in January

CSO | Stefanie Moya |
2/15/2018 11:40:33 AM