Consumer prices down 0.2 per cent on lower transport costs

A decline in transport costs helped lead consumer prices lower last month, according to new figures published by the Central Statistics Office (CSO).

Prices were down 0.2 per cent in October compared to the same month a year earlier with the most notable changes being transport costs, which fell by 5.4 per cent, clothing and footwear, down 3.3 per cent, and furnishing and household-related items, down 2.3 per cent.

Education costs were 3.8 per cent higher versus October 2014, while miscellaneous goods and services rose 2.9 per cent. Communications-related prices were up 1.7 per cent and restaurant and hotel costs, up 1.5 per cent.

Consumer prices declined by 0.2 per cent from September to October, as against a 0.3 per cent month-on-month decrease a year earlier.

The most significant monthly costs changes were in education and miscellaneous goods and services, which were up 3.6 per cent and 0.8 per cent respectively. Transport costs fell by 2.1 per cent compared to September while restaurant and hotel costs were down 0.6 per cent.

CSO said transport costs were down primarily due to a decline in air fares and lower petrol and diesel prices.