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Irish Inflation Rises To 1.7% In December

Ireland's EU measure of inflation increased modestly in December after slowing in the previous month, data released by the Central Statistical Office showed Thursday.

The Harmonized Index of Consumer Prices (HICP) increased 1.7 percent year-on-year in December after rising 1.6 percent in November. In October, prices rose by 2.1 percent.

Driving the faster growth in prices, cost of education advanced 4.8 percent annually, while housing costs and utility prices rose by 4.3 percent. Transportation costs were higher by 3.6 percent compared to December 2011, and food and non-alcoholic beverages prices higher by 1.6 percent.

On the other hand, cost of communications fell 5.4 percent during the month, and prices of clothing footwear declined 0.8 percent from a year earlier, data showed.

Sequentially, the HICP remained unchanged in December after declining 0.5 percent in November.

Inflation measured by the Consumer price index (CPI) was 1.2 percent in December, compared to 0.8 percent in November. Month-on-month, the CPI edged up 0.1 percent, reversing November's 0.4 percent decline.

In the whole of 2012, Ireland's EU harmonized inflation rose to 2 percent from 1.1 percent in 2011. Inflation as per the consumer price index, meanwhile, dropped to 1.7 percent from 2.6 percent.

by RTTNews Staff Writer

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