Transport and clothing prices outpace average April inflation

Consumer prices up 1.7% in 12 months to April

Higher accommodation costs led to an increase in the consumer price index. Photograph: iStock

Higher accommodation costs led to an increase in the consumer price index. Photograph: iStock

 

The pace of inflation slowed in April, although the transport, clothing and footwear sectors saw stronger than average price growth, according to data from the Central Statistics Office (CSO).

The consumer price index rose 0.4 per cent in the month, slower than the 0.8 per cent growth in both February and March. However, it posted more growth than April 2018 when prices fell 0.2 per cent on the month.

Overall, prices were 1.7 per cent higher than a year ago, with housing costs, including electricity and gas, up 4.7 per cent. Restaurant and hotel prices rose 3.7 per cent, while transport prices were up 3.7 per cent.

Over the course of the 12 months to April, prices for household furnishings fell 3.6 per cent, while clothing and footwear prices dropped 1.1 per cent.

However, compared to March, clothing and footwear prices rose 1 per cent, while transport prices were up 1.4 per cent.

The restaurant and hotel sector was the biggest driver behind the overall annual inflation figure, while household equipment prices were responsible for the largest downward contribution.

Higher prices for food, alcohol and hotel accommodation contributed to the annual change, as did increased rents and mortgage interest payments.

Dragging on the index were lower motor insurance premiums and a reduction in prices for appliances.