Consumer Prices in February, as measured by the CPI, increased by 0.8% in the month. This compares to an increase of 1.1% in February of last year and as a result, the annual rate of inflation decreased to 4.8%, down from 5.2% in January.
The EU Harmonised Index of Consumer Prices (HICP) increased by 0.9% in the month, compared to an increase of 1.2% in February 2006. The annual rate of inflation, as measured by the HICP, decreased from 2.9% in January to 2.6% in February. There were decreases in Clothing & Footwear (-2.8%) and Furnishings (-1.5%).
The annual rate of inflation for Services was 9.1% in February, while Goods showed no change in the year. The most significant monthly price changes were increases in Clothing & Footwear (+11.1%) and Furnishings (+1.7%).
The main factors contributing to the monthly change were as follows: Clothing & Footwear and Furnishings increased due to the recovery in prices following the traditional January sales.
Central Statistics Office, Ireland
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