Irish Consumer Prices Drop for Second Month


Irish consumer prices decreased by 0.2 percent in the year to July 2017 after falling by 0.4 percent in the previous month. It was the second straight month of decline, as cost dropped for clothing and footwear, food and non-alcoholic beverages, and furnishings and household equipment.

Year-on-year, the largest downward contribution to the CPI came from: Clothing and footwear (-5.9 percent from -5.3 percent in June); food and non-alcoholic beverages (-2 percent from -2.7 percent); furnishings and household equipment (-4.3 percent from -3.7 percent): miscellaneous goods and services (-1.5 percent from 0.2 percent); and recreation and culture (-2.4 percent from -1.6 percent). In contrast, cost rose for: Transport (0.1 percent from -0.9 percent in June); restaurants and hotels (2.4 percent from 1.8 percent); and housing, water, electricity, gas and other fuels (2.1 percent from 0.5 percent).

Annual core inflation rate, which excludes energy and unprocessed food, rose to -0.1 percent from -0.4 percent in June.
  
On a monthly basis, consumer prices were unchanged after a 0.1 percent increase in June. The most significant monthly price changes were decreases in clothing and footwear (-6.7 percent) and furnishings, household equipment and routine household maintenance (-1.5 percent). There were increases in Transport (+2.4 percent) and restaurants and hotels (1.1 percent).

The harmonized index fell by 0.2 percent compared to a year earlier and rose by 0.1 percent in the month.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/10/2017 10:49:32 AM