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Financial News: Ireland Inflation At 17-month High

Ireland Inflation At 17-month High

10/11/2018 - 06:55:00 (RTTNews)

(RTTNews) - Ireland's consumer price inflation accelerated in September, after slowing in the previous month, to its highest level in nearly one-and-a-half years, preliminary data from the Central Statistics Office showed on Thursday.

The consumer price index rose 0.9 percent year-on-year following a 0.7 percent increase in August. Inflation was the highest since April 2017, when it was at the same level.

Price growth was largely driven by higher utility costs.

On a month-on-month basis, consumer prices dropped for the first time since April, down 0.4 percent after a 0.3 percent increase in August.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, rose 1.2 percent year-on-year following a 0.9 percent increase in August.

Compared to the previous month, the HICP decreased 0.3 percent in September, entirely erasing a similar size gain in the previous month.

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