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Annual inflation holds at 1.2pc in Jan

Thursday, February 21 11:13:29

Annual inflation, as measured by the Consumer Price Index (CPI) remained unchanged at 1.2pc in January, latest CSO figures show.

The CPI decreased by 0.5pc compared to December, it said.

The most notable changes in the year were increases in Education (+4.7pc), Alcoholic Beverages and Tobacco (+4.5pc) and Miscellaneous Goods and Services (+3.6pc). There were decreases in Communications (-5.7pc), Furnishings, Household Equipment and Routine Household Maintenance (-3.3pc) and Clothing and Footwear (-1.2pc).

The most significant monthly price changes were decreases in Clothing and Footwear (-11.1pc), Furnishings, Household Equipment and Routine Household Maintenance (-3.1pc) and Miscellaneous Goods and Services (-1.0pc). There were increases in Alcoholic Beverages and Tobacco (+5.4pc) and Health (+1.1pc).

The main factors contributing to the monthly change were Clothing and Footwear and Furnishings, Household Equipment and Routine Household Maintenance prices fell due to the traditional winter sales.

Miscellaneous Goods and Services fell mainly due to lower premiums for motor car insurance.

Alcoholic Beverages and Tobacco increased due to a recovery in prices for wine, spirits and beer sold in off licences and supermarkets following the end of special offers.

Health rose mainly due to an increase in prices for prescribed drugs.