Ireland Inflation Rate Turns Negative

Consumer prices in Ireland edged down 0.1 percent year-on-year in February of 2016 after rising 0.1 percent in the previous two months, driven by falling prices of transport, clothing and footwear, housing, and utilities and food and non-alcoholic beverages.

The most notable changes in the year were decreases in clothing and footwear (-3.8 percent), transport (-3.1 percent), furnishings, household equipment and routine household maintenance (-1.8 percent) and food and non-alcoholic beverages (-0.9 percent). 

There were increases in miscellaneous goods and services (+4.2 percent), education (+3.8 percent), alcoholic beverages and tobacco (+1.3 percent) and restaurants and hotels (+1.0 percent).   

On a monthly basis, consumer prices were up 0.4 percent, the first increase in six months. The divisions which caused the largest upward contribution were clothing and footwear (prices up 6.4 percent) and restaurants and hotels (prices up 0.4 percent) while cost of food and non-alcoholic beverages fell 0.7 percent. 

The harmonized index fell 0.2 percent year-on-year and rose 0.4 percent during the month.

Ireland Inflation Rate Turns Negative

CSO | Joana Taborda |
3/10/2016 11:26:59 AM