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Annual inflation falls to 1.6pc in Sept

Thursday, October 11 11:12:35

Annual inflation, as measured by the Consumer Price Index (CPI), fell to 1.6pc in September from 2pc in August while consumer prices actually fell 0.1pc compared to the previous month, latest figures from the CSO show.

The most notable changes in the year were increases in Education (+9.6pc), Transport (+7.9pc), Miscellaneous Goods and Services (+5.1pc) and Alcoholic Beverages and Tobacco (+3.9pc).

There were decreases in Housing, Water, Electricity, Gas and Other Fuels (-2.8pc), Communications (-2.6pc) and Furnishings, Household Equipment and Routine Household Maintenance (-2.6pc).

The most significant monthly price change was a decrease in Transport (-1.1pc).

There were increases in Clothing and Footwear (+2.9pc) and Alcoholic Beverages and Tobacco (+0.6pc).

The main factors contributing to the monthly change were transport, which fell mainly due to a decrease in airfares, which was partially offset by increases in petrol and diesel prices.

Clothing and Footwear increased mainly due to a further recovery in prices following the traditional summer sales.

Alcoholic Beverages and Tobacco rose mainly due to higher prices for beer and spirits sold in off licences and supermarkets.

The annual rate of inflation for Services was 1.2pc in the year to September, while Goods increased by 2.0pc. Services, excluding mortgage interest repayments, increased by 3.4pc in the year since September 2011.