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Dublin: 23°C Friday 12 August 2022

Prices of clothing, footwear and communications fall for two consecutive months

Consumer prices were 0.5% lower in May than in the same month last year.

Image: Shutterstock

CONSUMER PRICES HAVE dropped for a second consecutive month and were 0.5% lower in May than they were in same month last year.

This means a basket of goods and services that cost €1,000 in May 2019 would have cost €995.11 in May 2020.

According to the Central Statistics Office (CSO) consumer price index for May, the most notable changes in the year were decreases in:

  • clothing and footwear (-5.4%)
  • communications (-5.3%), furnishings
  • household equipment and routine household maintenance (-3%
  • housing, water, electricity, gas and other fuels (-2.7%)

There were increases in education (+4.1%), alcoholic beverages and tobacco (+3.5%), health (+2.8%) and miscellaneous goods and services (+2.1%).

The most significant monthly price changes were decreases in transport and clothing and footwear.

The CSO said housing, water, electricity, gas and other fuels fell mainly due to a reduction in the price of home heating oil, electricity and gas. This reduction was partially offset by higher mortgage interest repayments and rents.

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Transport decreased primarily due to lower prices for petrol and diesel. Clothing and footwear fell due to sales.

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