Irish consumer prices fell in November

This is the fourth consecutive month of lower prices...

Irish consumer prices fell in November

Mall cultural in Jakarta, Indonesia by Jonathan McIntosh, 2004

Overall consumer pieces in Ireland were 0.1% lower in November than they were 12 months ago.

The most notable changes in the year were decreases in Furnishings, Household Equipment & Routine Household Maintenance which fell by 4.3%. This was due to reduced cost of furniture & furnishings and non-durable household goods.

Clothing & Footwear (-2.8%), Communications (-2.7%) and Food & Non-Alcoholic Beverages (-2.4%) all had significant falls.

The sub indexes for Miscellaneous Goods & Services (+2.5%), Alcoholic Beverages & Tobacco (+2.1%), Restaurants & Hotels (+1.9%) and Education (+1.8%) all rose.

Restaurants & Hotels costs rose mainly due to an increase in the cost of hotel accommodation and higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, and cafes.

Miscellaneous Goods & Services increased primarily due to higher health, motor and dwelling insurance premiums which was partially offset by lower prices for appliances, articles and products for personal care.

Euro area annual inflation is expected to be 0.6% in November 2016, up from 0.5% in October 2016, according to a flash estimate from Eurostat, the statistical office of the European Union.