Irish consumer prices have fallen in 2016

Prices are down right across the EU...

Irish consumer prices have fallen in 2016

Photocall file photo

New figures released by the Central Statistic Office (CSO) show that consumer prices in October were 0.3% lower than one year ago.

The biggest price drops have been in furnishings, household equipment and maintenance (-3.8%), communication costs (-2.7%) clothing and footwear (-2.6%) and cultural recreational costs (-2.4%.).

However, alcohol and tobacco prices rose by 2% - as did restaurant and hotel costs.

The 'alcohol and tobacco' sub index rose due to higher prices for cigarettes as a result of an increase in excise duty - alcohol prices are down by 2.9% year-on-year according to the CSO.

How Irish price inflation compares to the EU average (charted in lighter blue)

The EU Harmonised Index of Consumer Prices (HICP) fell by 0.4% compared with October 2015.

It followed similar trends to the Irish numbers, with household furnishing and expenses down by -3.8%, clothing down -2.6% and communication costs fell by -2.6% - while restaurant and hotel charges were 2.1% higher and alcohol and tobacco cost 2% more.