logo
  

Ireland Inflation Remains Stale In July

Ireland's consumer price inflation held steady in July to remain at its highest level in just over thirty-eight years, data from the Central Statistics Office showed Thursday.

Consumer prices climbed 9.1 percent year-over-year in July, the same rate of increase as in June.

This was the strongest inflation rate since the second quarter of 1984, when prices had grown 9.7 percent, the statistical office said.

The overall inflation in July was largely driven by a 21.6 percent jump in utility costs. This was followed by a 19.4 percent surge in transport costs due to higher energy prices.

Prices for food and non-alcoholic beverages grew 7.7 percent and hotel and restaurant charges were 7.5 percent higher compared to last year.

The only divisions that showed an annual decrease in July were miscellaneous goods and services and education, the agency said.

On a monthly basis, consumer prices went up 0.4 percent in July, slower than the 1.3 percent gain in the prior month.

EU harmonized inflation also remained stable at 9.6 percent in July.

Month-on-month, the harmonized index of consumer prices increased 0.4 percent, following a 1.3 percent rise in the prior month.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Retailers Dollar General Corp. (DG) and Big Lots, Inc. (BIG) reported Thursday results for the third quarter, with profit at Dollar General increasing from last year, while Big Lots reported a sharply wider loss than last year. The bottom line at both the retailers missed analysts' estimates. The U.S. Food and Drug Administration said it has granted approval for Ferring Pharmaceuticals Inc.'s fecal microbiota product Rebyota. The approval is for the prevention of recurrence of Clostridioides difficile infection or CDI in individuals 18 years of age and older. Rebyota will be used after an individual has completed antibiotic treatment for recurrent CDI. Salt Lake City, Utah-based Rocky Mountain Pies, LLC is recalling Red Button Vintage Creamery French Silk Pie citing possible presence of undeclared almonds, a known allergen, the U.S. Food and Drug Administration said. The recall involves 31.88 oz French Silk Pie with the lot code beginning with 2 266. Only UPC code 0 41172 81290 9 is involved in the recall.
Follow RTT