Consumer prices fall for first time since July 2010

But February prices rise 0.5 per cent compared with January as clothing and furniture costs rise


Consumer prices fell marginally in the year to February, new data showed today, the first time the annual index has shown a decline since July 2010.

The overall consumer price index was 0.1 per cent lower over the 12 months, the Central Statistics Office showed today.

A fall in the price of communications of 4 per cent helped drag prices lower, with furnishing and house maintenance down 3.6 per cent and clothing falling by 3.4 per cent.

That was slightly offset by a 4.6 per cent rise in education costs, with tobacco and alcohol prices rising 3.3 per cent.

On a monthly basis, prices were 0.5 per cent higher compared with January, down slightly from the 0.8 per cent increase recorded in February 2013. Clothing showed a 5.9 per cent hike over the month, with furnishings and household maintenance up 1.4 per cent.