Irish April Inflation Rate at Near 7-Year High of 1.7%

The annual inflation rate in Ireland jumped to 1.7 percent in April of 2019 from 1.1 percent in the previous month. It was the highest inflation rate since August of 2012, boosted by higher prices of transport, housing & utilities and restaurant & hotels.
CSO | Agna Gabriel | 5/9/2019 10:33:50 AM
The largest upward contribution to the CPI came from: housing & utilities  (4.7 percent from 4.3 percent in March), mainly due to higher rents and mortgage interest repayments in addition to an increase in the price of electricity, gas and home heating oil; restaurants & hotels (3.7 percent from 3.6 percent), amid higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. and an increase in the cost of hotel accommodation; transport (3.7 percent from 0.4 percent) as a result of  an increase in air fares and higher prices for diesel, petrol and motor cars; and alcoholic beverages & tobacco (2.4 percent from 3.1 percent) , on the back of higher prices for tobacco products.

On the other hand, prices fell for: furnishings, household equipment & routine household maintenance (-3.6 percent from -3.2 percent), due to a reduced cost of furniture & furnishings, non-durable household goods and household textiles; communication (-3.3 percent from -2.9 percent), on the back of lower cost of telephone & telefax equipment; clothing & footwear (-1.1 percent from -1.7 percent); and miscellaneous goods & services (-1.0 percent, the same as in March), mainly due to lower motor insurance premiums and a reduction in prices for appliances, articles & products for personal care and other personal effects. This reduction was partially offset by higher prices for hairdressing salons & personal grooming establishments.

Annual core inflation, which excludes energy and unprocessed food, went up to 1.4 percent in April from 0.9 percent in March. 

On a monthly basis, consumer prices went up 0.4 percent, after a 0.8 percent gain in the prior month. The largest upward contribution to the CPI in the month were transport (+0.19%), restaurants & hotels (+0.09%) and housing& utilities (+0.09%) while the division which caused the largest downward contribution in the month was communication (-0.02%).

The harmonised index of consumer prices rose by 1.7 percent from the previous year; and increased by 0.4 percent from the previous month.  

Irish April Inflation Rate at Near 7-Year High of 1.7%