Prices Fall By 3.2% In The Year To February

Consumer Prices in February, as measured by the CPI, increased by 0.4% in the month. This compares to a decrease of 0.4% recorded in February of last year. As a result, prices on average, as measured by the CPI, were 3.2% lower in February compared with February 2009.

The EU Harmonised Index of Consumer Prices (HICP) increased by 0.2% in the month. An increase of 0.2% was also recorded in February of last year. Prices on average, as measured by the HICP, were 2.4% lower in February compared with February 2009.

Services prices fell by 2.9% in the year to February, while Goods fell by 3.6%.

Clothing and Footwear and Furnishings, Household Equipment and Routine Household Maintenance prices increased due to a recovery in prices following the traditional January sales.

Health fell due to a reduction in prices for prescribed drugs.

Housing, Water, Electricity, Gas and Other Fuels rose due to an increase in average mortgage interest repayments.

Miscellaneous Goods and Services rose due to increases in premiums for private health insurance.

The CPI excluding tobacco index for February increased by 0.5% in the month and was down 3.4% in the year.

The CPI excluding energy products rose by 0.5% in the month and fell by 4.1% in the year.

The CPI excluding mortgage interest increased by 0.3% in the month and was down by 2.1% in the year.