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Financial News: Ireland's Consumer Prices Fall For First Time In

Ireland's Consumer Prices Fall For First Time In 2 Years

05/14/2020 - 08:22:00 (RTTNews)

(RTTNews) - Ireland's consumer prices declined for the first time in two years in April, data from the Central Statistics Office showed Thursday.

Consumer prices dropped 0.1 percent on a yearly basis, following March's 0.7 percent increase. This was the first decrease in prices since a 0.4 percent fall posted in April 2018.

At the same time, the harmonized index of consumer prices fell 0.3 percent annually, reversing a 0.5 percent rise in March.

Month-on-month, consumer prices fell 0.4 percent, offsetting a 0.4 percent rise in March. Similarly, the HICP dropped 0.4 percent.

The annual fall in consumer prices was mainly driven by an 8 percent decrease in communications and 3.9 percent fall in clothing and footwear costs.

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