Sun, 29 Nov 2020

DUBLIN, Ireland - Prices of goods and services in Ireland for the year to Otober were down 1.50%, compared to the same ten-month period last year, the Central Statistics Office (CSO) reported on Thursday.

Hardest hit was the Communications sector which fell by 7.19%. Clothing & Footwear was down 4.40%, Transport 4.30%, and Furnishings, Household Equipment & Routine Household Maintenance 4.00%.

There were increases in Health which rose 4.20%, Alcoholic Beverages & Tobacco which were up 0.80%, Recreation & Culture, 0.70%, and Restaurants & Hotels, up 0.10%.

Consumer Prices in October, as measured by the CPI, decreased by 0.60% in the month. During October of last year, prices fell by 0.30% in the month.

The divisions which caused the largest downward contribution to the CPI in the year were Transport which was down 0.59%,Housing, Water, Electricity, Gas & Other Fuels, down 0.36%, Communications 0.22%, and Furnishings, Household Equipment & Routine Household Maintenance 0.20%.

The divisions which caused the largest upward contribution to the CPI in the year were Health which was up 0.13%, Recreation & Culture 0.05%, Restaurants & Hotels 0.04% and Alcoholic Beverages & Tobacco, 0.03%.

The main factors contributing to the annual change, according to the CSO, were as follows:

  • Transport fell mainly due to a reduction in air fares and lower prices for diesel and petrol. This decrease was partially offset by an increase in the cost of motor cars.
  • Housing, Water, Electricity, Gas & Other Fuels decreased primarily due to a reduction in the price of home heating oil, lower rents and a fall in the cost of gas. This reduction was partially offset by an increase in the cost of electricity and higher mortgage interest repayments.
  • Communications fell due to a reduction in the cost of telephone & telefax services and telephone & telefax equipment.
  • Furnishings, Household Equipment & Routine Household Maintenance decreased primarily due to the reduced cost of non-durable household goods, furniture & furnishings and household textiles.
  • Health rose mainly due to an increase in the cost of medical and dental services and higher prices for pharmaceutical products.
  • Recreation & Culture increased primarily due to higher prices for package holidays and an increase in the cost of recreational and sporting services. This increase was partially offset by lower prices for games, toys & hobbies and gardens, plants & flowers.
  • Restaurants & Hotels rose mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc. This increase was partially offset by a reduction in the cost of hotel accommodation.
  • Alcoholic Beverages & Tobacco increased due to higher prices for tobacco products. This increase was partially offset by lower prices for alcoholic beverages sold in supermarkets and off licences.

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