Consumer prices continue to fall, with the annual rate of deflation reaching 3.5 per cent in April, new figures from the Central Statistics Office showed today.
This compares to a rate of 2.6 per cent in the year to March.
The most significant decreases were seen in housing, water, electricity, gas and other fuels, which fell 19.1 per cent throughout the year as mortgage payments declined as a result of lower interest rates. Clothing and footwear declined 11.9 per cent due to sales, while transport saw prices fall 4.8 per cent.
Alcohol and tobacco rose 8 per cent as increased excise duties pushed prices up during the year. Education prices increased 5.3 per cent and health charges rose 4.5 per cent.
Excluding tobacco, the CPI for April fell by 0.9 per cent in the month and was 3.9 per cent lower in the year. When energy costs were taken out of the index, it fell 1.1 per cent in the month and decreased by 3.4 per cent in the year.