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13/08/2009
Consumer Prices Continue To Fall
Consumer prices in Ireland have fallen for the ninth month in a row, according to recently published figures.
The Central Statistics Office (CSO) revealed today prices fell by 0.8% last month resulting in a 5.9% drop since July last year.
The CSO said the most notable changes over the past year have been a 27% reduction in the category that includes mortgage repayments, as well as electricity and gas bills.
Clothing and footwear prices have fallen 11%, while food and drink prices are down 4.2% and transport costs are down 6.2%.
The cost of alcohol and tobacco has increased by 7.7% in the past year, while education costs are up by 4.4% and health costs by 3.4%.
Responding to the figures, Fine Gael Deputy Leader & Finance Spokesman Richard Bruton TD said the figures were good news for families struggling to pay their bills, but families are taking a hammering from other sectors.
"Despite the falling prices across all sectors, the price pattern in sectors controlled by Government is very disappointing.
"Over the past 12 months, there have been significant rises in government-controlled prices in Public Transport, Hospitals, Electricity, Education and Communications," he said.
Mr Burton added: "Overall, Ireland has clipped about 2% off its price levels relative to the euro zone. This is progress, but it still does not constitute enough to significantly strengthen our export competitive base."
(DW/BMcC)
The Central Statistics Office (CSO) revealed today prices fell by 0.8% last month resulting in a 5.9% drop since July last year.
The CSO said the most notable changes over the past year have been a 27% reduction in the category that includes mortgage repayments, as well as electricity and gas bills.
Clothing and footwear prices have fallen 11%, while food and drink prices are down 4.2% and transport costs are down 6.2%.
The cost of alcohol and tobacco has increased by 7.7% in the past year, while education costs are up by 4.4% and health costs by 3.4%.
Responding to the figures, Fine Gael Deputy Leader & Finance Spokesman Richard Bruton TD said the figures were good news for families struggling to pay their bills, but families are taking a hammering from other sectors.
"Despite the falling prices across all sectors, the price pattern in sectors controlled by Government is very disappointing.
"Over the past 12 months, there have been significant rises in government-controlled prices in Public Transport, Hospitals, Electricity, Education and Communications," he said.
Mr Burton added: "Overall, Ireland has clipped about 2% off its price levels relative to the euro zone. This is progress, but it still does not constitute enough to significantly strengthen our export competitive base."
(DW/BMcC)
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