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Ireland January CPI Inflation Lowest In A Year

2/23/2012 6:57 AM ET

Ireland's inflation slowed for the second month in a row in January to its lowest level in 12 months , data from the Central Statistics Office showed Thursday.

The consumer price index increased 2.2 percent annually, following the 2.5 percent rise in December. The latest figure is the lowest since January last year, when the rate was 1.7 percent.

Month-on-month, consumer prices decreased 0.5 percent, after declining 0.3 percent in the previous month. Prices declined for the second month in a row after remaining flat in November.

The harmonized index of consumer prices (HICP), measured for EU comparison purposes, rose 1.3 percent annually, slightly slower than the 1.4 percent increase in December. Inflation is the lowest since August 2011.

On a monthly basis, the HICP declined 0.4 percent, following the 0.1 percent fall in December. The latest fall is the biggest since January 2010, when prices declined 0.7 percent on a monthly basis.

The statistical agency also released the wholesale price index data today. Factory-gate inflation rose for a second straight month in January to 2.7 percent from 2.4 percent in December.

by RTT Staff Writer

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