Prices Fall By 6.5% In The Year To September

Consumer Prices in September, as measured by the CPI, decreased by 0.4% in the month. This compares to an increase of 0.3% recorded in September of last year.

As a result, prices on average, as measured by the CPI, were 6.5% lower in September compared with September 2008.

The EU Harmonised Index of Consumer Prices (HICP) also decreased by 0.4% in the month, compared to an increase of 0.3% in September of last year. As a result, prices on average, as measured by the HICP, were 3.0% lower in September compared with September 2008.

Services prices fell by 7.5%in the year to September, while Goods fell by 5.3%.

The most significant monthly price changes were decreases in Food and Non-Alcoholic Beverages (down 1.3%) and Transport ( down 0.9%). There was an increase in Clothing & Footwear (up 3.6%).

Food and Non-Alcoholic Beverages fell due to lower prices across a wide range of food items.

Clothing and Footwear rose due to a further recovery from the traditional summer sales.

Transport fell due to decreases in airfares.

The CPI excluding tobacco index for September decreased by 0.4% in the month and was down 7.1% in the year. The CPI excluding energy products index fell by 0.4% in the month and decreased by 6.1% in the year. The CPI excluding mortgag interest decreased by 0.3% in the month and was down by 2.4% in the year.