Irish February Inflation Rate Slows to 3-Month Low of 0.6%

Annual inflation rate in Ireland decreased to 0.6 percent in February of 2019 from 0.7 percent in each of the previous two months. It was the lowest inflation rate since November, as cost slowed for housing & utilities and restaurant & hotels.

Year-on-year, inflation softened for housing and utilities (4 percent from 4.4 percent in January); restaurant and hotels (3.6 percent from 3.7 percent) and health (0.8 percent from 1 percent). In addition, prices continued to drop for transport (-1.3 percent, the same as in January); food and non-alcoholic beverages (-0.7 percent from -1.5 percent); recreation and culture (-0.3 percent from a flat reading); clothing and footwear (-1.7 percent from -1.5 percent); communication (-1.9 percent from -0.9 percent) and furnishings household equipment and routine household maintenance (-3.7 percent from -3.3 percent). Meanwhile, inflation was steady for alcoholic beverages and tobacco (2.7 percent, the same as in January). 

Annual core inflation, which excludes energy and unprocessed food, went down to 0.6 percent in February from 0.8 percent in January. 

On a monthly basis, consumer prices rose 0.8 percent, after a 0.7 percent fall in January. the largest upward contribution to the CPI in the month were clothing & footwear (+0.28%), transport (+0.25%) and restaurants & hotels (+0.15%).  The divisions which caused the largest downward contribution in the month were alcoholic beverages & tobacco (-0.04%) and communications (-0.03%). 

The harmonised index of consumer prices rose by 0.7 percent from the previous year; and increased by 0.8 percent from the previous month. 

Irish February Inflation Rate Slows to 3-Month Low of 0.6%

CSO | Agna Gabriel |
3/14/2019 11:24:47 AM