Prices Fall By 3.9% In The Year To January
Consumer Prices in January, as measured by the CPI, fell by 0.6% in the month. This compares to a decrease of 1.7% recorded in January of last year.
As a result, prices on average, as measured by the CPI, were 3.9% lower in January compared with January 2009.
The EU Harmonised Index of Consumer Prices (HICP) decreased by 0.7% in the month compared to a decrease of 0.8% in January of last year. Prices on average, as measured by the HICP, were 2.4% lower in January compared with those last year.
The most notable changes in the year were decreases in clothing and footwear (down 10.8%) and routine household maintenance (down by 4.6%) which fell because of the traditional winter sales.
Health costs rose (by 1.9%) due to an increase in costs for dental and optical services, while transportation costs rose (up 3.5%) due to increases in petrol & diesel prices, which were partially offset by a decrease in airfares.
In addition, the cost of miscellaneous goods and services rose due to higher charges for medical insurance.
Services prices fell by 4.4% in the year to January, while Goods fell by 3.4%.
The CPI excluding tobacco index for January fell by 0.6% in the month and was down 4.2% in the year.
The CPI excluding energy products decreased by 0.9% in the month and fell by 5.0% in the year. The CPI excluding mortgage interest fell by 0.6% in the month and was down by 2.2% in the year.