Prices Fall In December...

Consumer Prices in December, as measured by the CPI decreased by 0.5% in the month according to figures produced by Ireland's Central Statistics Office. This compares to a decrease of 1.2% recorded in December of last year.

As a result, prices on average, as measured by the CPI, were 5.0% lower in December compared with December 2008.

The EU Harmonised Index of Consumer Prices (HICP) also decreased by 0.5% in the month compared to a decrease of 0.7% in December of last year. Prices on average, as measured by the HICP, were 2.6% lower in December compared with December 2008.

Clothing and Footwear fell with lower prices for both clothing and footwear as sales continued.

Alcoholic Beverages and Tobacco fell as a result of decreases in the price of spirits and wine sold in supermarkets and off licences.

Transport fell due to lower prices for new and second-hand cars. Food & Non-Alcoholic Beverages fell due to lower prices across a wide range of products.

Services prices fell by 5.1% in the year to December, while Goods fell by 4.8%.

The CPI excluding tobacco index for December fell by 0.5% in the month and was down 5.4% in the year. The CPI excluding energy products decreased by 0.5% in the month and decreased by 5.7% in the year. The CPI excluding mortgage interest fell by 0.6% in the month and was down by 2.2% in the year.