Consumer Prices in January, as measured by the CPI, decreased by 0.5% in the month. This compares to a decrease of 0.1% in January of last year. As a result the annual rate of inflation fell to 4.3%, down from 4.7% in December 2007.
The EU Harmonised Index of Consumer Prices (HICP) fell by 0.7% in the month, compared to a decrease of 0.6% in January 2007. The annual rate of inflation, as measured by the HICP, decreased from 3.2% in December to 3.1% in January.
The most notable changes in the year were increases in Education (+6.0%). There were decreases in Clothing & Footwear (-4.7%) and Furnishings.
The annual rate of inflation for Services was 5.1% in January, while Goods increased by 3.3% in the year. The most significant monthly price changes were decreases in Clothing & Footwear (-12.9%) and Furnishings.
The main factors contributing to the monthly change were as follows:
• Clothing & Footwear and Furnishings Maintenance fell due to the traditional winter sales.
Central Statistics Office Ireland
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