Friday, January 15, 2010

Irish Consumer Prices fell by 5.0% in the year to December 20091

Irish Consumer Prices in December, as measured by the CPI (Consumer Price Index) fell by 0.5% in the month, according to the CSO. This compares to a decrease of 1.2% recorded in December of last year. As a result, prices on average, as measured by the CPI, were 5.0% lower in December compared with December 2008. It was the first full-year decline since 1931.

The most notable changes in the year were decreases in Housing, Water, Electricity, Gas & Other Fuels (-21.2%), Clothing & Footwear (-14.7%), Food & Non-Alcoholic Beverages (-8.1%), and Furnishings, Household Equipment & Routine Household Maintenance (-4.8%). 

There were increases in Education (+11.3%), Miscellaneous Goods&Services (+5.4%), Health (+2.5%), Transport (+2.1%) and Alcoholic Beverages & Tobacco (+1.2%).

Services prices fell by 5.1% in the year to December, while Goods fell by 4.8%.

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