Irish Consumer Prices Unchanged in August

Annual inflation rate in Ireland was reported at 0.0 percent in August of 2015, up from a -0.2 percent in July, bringing an end to eight months of deflation. While cost of transport and food decreased less than in the previous month, prices of education and communication continued to grow.
Yekaterina | 9/10/2015 11:50:38 AM
Compared to August 2014, prices of transport declined at a slower 3.3 percent (compared to -3.8 percent in July). Also, cost of food and non-alcoholic beverages decreased by 2.3 percent (compared to -2.4 percent in July); and clothing and footwear prices went down by 4.9 percent (compared to -3.7 percent in July). Additional downward pressure came from: furnishings, household equipment & routine household maintenance (-2.6 percent); alcoholic beverages and tobacco (-0.1 percent).

In contrast, cost of education increased by 5 percent; communications by 2.5 percent; restaurants and hotels by 1.9 percent; housing and utilities by 1.5 percent; and health by 0.4.

Annual core inflation advanced to 1.1 percent in August, up 0.3 p.p. when compared to the previous month.

On a monthly basis, consumer prices increased by 0.4 percent, compared to a 0.3 percent drop in the previous month. Upward pressure came from: clothing and footwear 4.6 ( percent compared to -7.7 percent in July); and food and non-alcoholic beverages ( 0.0 percent compared to -0.5 percent July). Also, cost of restaurants and hotels increased by 0.5 percent; and transport prices were flat.

The harmonized index increased by 0.2 percent year-on-year and by 0.3 percent in the month.

Irish Consumer Prices Unchanged in August