Ireland Inflation Rate Falls to 3-1/2-Year Low

Irish annual inflation rate dropped to -0.1 percent in February of 2014, from 0.2 percent in the previous month. It is the first time since July of 2010 the inflation rate enters in negative territory.

The largest downward pressure came from decreases in prices of communications (-4.0 percent), furnishing and household equipment (-3.6 percent), clothing and footwear (-3.4 percent) and transport (-2.0 percent). In contrast, prices of education (+4.6 percent), alcoholic beverages and tobacco (+3.3 percent) and miscellaneous goods and services associated to private health insurance premiums (+3.2 percent) increased. 

On a monthly basis, prices edge up from -0.5 percent in January to 0.5 percent, as clothing and furniture costs rise. The most significant price changes were increases in clothing and footwear after the winter sales (+5.9 percent), furnishings and household equipment (+1.4 percent) and transport (+1.1 percent). There were decreases in alcoholic beverages and tobacco (-0.4 percent), food and non-alcoholic beverages (-0.2 percent).

Annual harmonized prices increased by 0.1 percent in February of 2014.

Ireland Inflation Rate Falls to 3-1/2-Year Low

CSO | Isabel Felino |
3/13/2014 12:21:44 PM