Irish Inflation Rate Unchanged at 1-1/2-Year High


Irish consumer price inflation came in at 0.9 percent in the year to October 2018, unchanged from the previous month's one-and-a-half-year high, on the back of rising prices of housing & utilities, transport and restaurants & hotels.

The largest upward contribution to the CPI came from: housing & utilities (5.5 percent vs 6.3 percent in September), mainly due to higher rents and an increase in the price of home heating oil, electricity and gas; transport (3.3 percent vs 2.2 percent), primarily due to higher prices for diesel and petrol which was partially offset by a decrease in air fares; and restaurants & hotels (2.1 percent vs 2.2 percent), mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. and an increase in the cost of hotel accommodation. 

On the other hand, prices fell for: miscellaneous goods & services (-3.1 percent vs -3 percent), primarily due to lower health and motor insurance premiums and lower prices for appliances, articles & products for personal care; food & non-alcoholic beverages (-2.2 percent, the same as in September), due to lower prices across a range of products such as meat, bread & cereals and sugar, jam, honey, chocolate & confectionery; and furnishings, household equipment & routine household maintenance (-4.3 percent vs -3.7 percent), mainly due to the reduced cost of non-durable household goods, furniture & furnishings, household textiles and glassware, tableware & household utensils.

Annual core inflation, which excludes energy and unprocessed food, eased to 0.1 percent in October from 0.3 percent in September.

On a monthly basis, consumer prices edged down 0.1 percent in October, after a 0.4 percent fall in September. The most significant monthly price changes were decreases in furnishings, household equipment & routine household maintenance (-1 percent) and restaurants & hotels (-0.8 percent). There were increases in education (1.6 percent) and alcoholic beverages & tobacco (0.5 percent).

The harmonised index of consumer prices rose by 1.1 percent from the previous year; and fell by 0.2 percent from the previous month.

Irish Inflation Rate Unchanged at 1-1/2-Year High


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/8/2018 11:29:44 AM