Ireland Inflation Rate Steady at -0.2%

Consumer prices in Ireland fell 0.2 percent year-on-year in November of 2015, the same as in the previous month. The inflation rate has been in negative territory since December last year, with the exception being August when it was flat, mainly due to falling oil prices.

Year-on-year, the divisions which caused the largest downward contribution were transport (-0.71 percent), clothing & footwear (-0.15 percent) and food & non-alcoholic beverages (-0.14 percent). Transport decreased mainly due to lower petrol and diesel prices, a reduction in the price of motor cars and a fall in air fares which was partially offset by an increase in bus and taxi fares; clothing & footwear decreased due to sales; food & non-alcoholic beverages fell due to lower prices across a range of products such as meat, bread & cereals and milk, cheese & eggs.

The divisions which caused the largest upward contribution were miscellaneous goods & services (+0.26 percent), restaurants & hotels (+0.24 percent) and housing, water, electricity, gas & other fuels (+0.21 percent). Miscellaneous goods & services increased primarily due to higher motor insurance premiums; restaurants & hotels increased mainly due to cost of hotel accommodation and higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc; housing, water, electricity, gas & other fuels rose mainly due to higher rents and the introduction of water supply and sewage collection charges, which was partially offset by lower mortgage interest repayments, a reduction in the cost of home heating oil and a decrease in the price of electricity and gas.

On a monthly basis, consumer prices fell 0.3 percent, following a 0.2 percent drop in October. 

Prices on average, as measured by the EU Harmonised Index of Consumer Prices decreased by 0.1 percent compared with November 2014 and fell by 0.4 percent from October of 2015.

Ireland Inflation Rate Steady at -0.2%

CSO | Joana Taborda |
12/10/2015 11:15:58 AM