Ireland Deflation Slows in May

Consumer prices in Ireland decreased 0.3 percent year-on-year in May of 2015 from a 0.7 percent drop last month, as cost of both clothing and transport fell at a slower pace while prices of communications and utilities accelerated.

Compared to May 2014, the biggest price decreases were reported for: clothing and footwear (-4.2 percent against -4.5 percent in April); transport (-2.9 percent compared to -6.0 percent last month); food and non-alcoholic beverages (-2.5 percent); and furnishings, household equipment and routine household maintenance (-2.3 percent). In contrast, cost of education increased by 5.0 percent; communications by 2.1 percent (from a 0.9 percent growth in April); housing, water, electricity, gas and other fuels by 1.9 percent (from +1.7 percent last month); and restaurants and hotels by 1.7 percent.

Annual core inflation was recorded at 0.6 percent in May, compared to a 0.2 percent growth in April.

On a monthly basis, consumer prices increased 0.4 percent, while remained unchanged in the previous month. Upward pressure came from: transport prices (+1.7 percent); communications (+1.1 percent); and restaurants and hotels (+0.7 percent). Meanwhile, cost of alcoholic beverages and tobacco fell 0.4 percent and recreation and culture prices declined 0.2 percent.

The harmonized index increased 0.2 percent year-on-year and 0.5 percent month-over-month.

Ireland Deflation Slows in May

CSO | Joana Ferreira |
6/11/2015 11:44:22 AM