CSO says consumer prices rose 0.8% in February
The Central Statistics Office (CSO) today said that consumer prices in February increased by 0.8%, compared to an increase of 1% in February last year.
The office said as a result the annual inflation rate fell to 1.7% in February down from 1.8% in January.
The most significant increases on the month were an increase in clothing and footwear (+12%), communications (+1%), health (0.8%) and household furnishings and equipment (1.8%). There was a decrease in Education prices (-0.3%).
The CSO attributed the clothing and household equipment rises to the hike in prices following the end of the Christmas sales.
Communications costs increased with the rise in line rental charges for domestic private users. The office added that health increases were due to a rise in dentists' and doctors' fees.
The EU Harmonised Index of Consumer prices (HICP) increased by 0.9% on the month.
This compares to an increase of 1% in February last year. Therefore, the rate of inflation as measured by HICP fell to 2.2% down from 2.3% in January.
The Consumer Price index excluding tobacco for February was 106.7, up 0.9% since January and up 1.4% on the year.
The annual rate of inflation for goods was 0.3% on the month and the rate for services was 3.1%.
The most notable annual changes were increases in Health (+6.9%), Education (+5.9%),
Communications (+5.2%), alcohol and tobacco (+4.4%) and restaurants and hotels (+3.9%).
There was a decrease in the cost of clothing and footwear (-4.5%).
