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08/02/2008
Consumer Statistics Prompt Warnings
Inflation fell to 4.3% in January from 4.7% in December, its lowest level since November 2006.
Figures just released from the Central Statistics Office show that while consumer prices in January decreased by 0.5%, food and health costs have risen. The decrease in the overall rate was mainly due to cheaper sale prices for clothing, footwear, furnishings and household equipment.
Fine Gael Deputy Leader and Finance Spokesman Richard Bruton warned that while inflation is decreasing Government-controlled prices are going in the other direction.
He said: "Brian Cowen is actually piling further pressure on householders and businesses by driving up the cost of State sector services."
He said that while the price of goods in the shops in the last four years rose by just 4%, the price increases in sectors influenced by the Fianna Fáil Government were:
Figures just released from the Central Statistics Office show that while consumer prices in January decreased by 0.5%, food and health costs have risen. The decrease in the overall rate was mainly due to cheaper sale prices for clothing, footwear, furnishings and household equipment.
Fine Gael Deputy Leader and Finance Spokesman Richard Bruton warned that while inflation is decreasing Government-controlled prices are going in the other direction.
He said: "Brian Cowen is actually piling further pressure on householders and businesses by driving up the cost of State sector services."
He said that while the price of goods in the shops in the last four years rose by just 4%, the price increases in sectors influenced by the Fianna Fáil Government were:
- Housing and Utilities up 61%
- Education 24%
- Health
- 21%
- Transport 14%
"Prices in Ireland are rising consistently faster than in the rest of the Eurozone. On top of that, the devaluation of both the dollar and sterling by over 12% in the past 12 months is creating serious problems for Ireland's trading sector," he warned.
However, Labour's Senator Brendan Ryan said the figures raise concerns that basic foodstuffs are becoming more expensive.
He said the figures show food alone rose by 7% - bread increased by 13.1% and flour rose by a massive 44.4%. Butter and margarine rose by 14.5% and meat rose 2.3%, in particular lamb rose by 6.9%.
Alternative protein sources such as eggs, milk and cheese rose by 15.8% with milk rising by 20.1% and eggs at 19%.
Senator Ryan said: "Most of these commodities are essential and a significant proportion of a family's income. As in previous Consumer Price Index figures the items which have seen the most significant price hike represent a staple part of a family's weekly shop.
He warned: "The increase in unemployment figures means that more people on lower incomes will seriously feel the pinch."
(VB)
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Ireland WeatherToday:Storm Bert will move east through the Northern Isles today. Though weakening it will still bring strong to gale winds to many in Northern Ireland and showers to all, these frequent, occasionally heavy across northern districts. Maximum temperature 10 °C.Tonight:Strong west to northwest winds easing overnight. Showers, most frequent during the evening and in north but dwindling overnight to leave most dry and bright come dawn. Minimum temperature 1 °C.
