Ireland Inflation Rate at 6-Month High in October

Irish consumer prices increased 0.6 percent year-on-year in October of 2017, accelerating from 0.2 percent in the previous month. It was the highest inflation rate since April, as prices advanced for housing and utilities and restaurants and hotels while fell less for food.

Year-on-year, prices rose faster for housing and utilities (3.1 percent vs 2.9 percent in September) and advanced at the same pace for restaurants and hotels (2.7 percent). In addition, cost fell less for food and non-alcoholic beverages (-1.2 percent vs -2 percent); recreation and culture (-1.2 percent vs -1.6 percent) and clothing and footwear (-4.7 percent vs -4.8 percent). Meanwhile, prices slowed for transport (0.6 percent vs 1 percent).

Annual core inflation rate, which excludes energy and unprocessed food, inched up to 0.4 percent from 0.1 percent in September.

On a monthly basis, consumer prices went down 0.1 percent compared to a 0.6 percent drop in September. The most significant monthly price changes were decreases in transport (-1.2 percent); clothing and footwear (-1.2 percent) and restaurants and hotels (-0.8 percent), while there were increases in education (1.4 percent); alcoholic beverages and tobacco (1 percent); housing and utilities (0.8 percent) and communications (0.5 percent).

The harmonized index rose by 0.5 percent compared to a year earlier, but fell by 0.1 percent in the month.

Ireland Inflation Rate at 6-Month High in October

CSO |Luisa Carvalho |
11/9/2017 11:35:08 AM