Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Irish consumer price inflation slowed annually in January from a month earlier, according to the Central Statistics Office on Thursday.
The annual rate of inflation slowed to 4.1% in January from 4.6% in December. On a monthly basis, prices deflated 1.3% in January compared to 0.5% inflation in December.
‘This is only the third time since September 2021 that the annual growth in the CPI was below 5%, while also being the third consecutive month where the inflation rate was lower than 5%,’ said Anthony Dawson, statistician in the prices division of the CSO.
The most notable changes were in Recreation & Culture up 9.3%, Restaurants & Hotels up 7.2%, Alcoholic Beverages & Tobacco up 4.7% and Food & Non-Alcoholic Beverages up 4.6%. Clothing & Footwear prices, meanwhile, declined 1.3%.
On a harmonised basis, allowing for EU-wide comparison, annual inflation slowed to 2.7% in January from 3.2% in December. This was unchanged from a flash estimate released at the end of last month.
On a monthly basis, harmonised consumer prices fell 1.4% in January compared to a 0.4% rise in December. This was also unchanged from the flash estimate.
In a separate release, the CSO reported exports fell in December to €13.93 billion from €15.30 billion a year earlier, alongside imports falling to €11.95 billion from €12.60 billion.
Across 2023, exports fell to €197.25 billion from €208.76 billion in 2022, while imports fell to €139.51 billion from €141.04 billion.
Copyright 2024 Alliance News Ltd. All Rights Reserved.