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More Happy Consumer News

 

Updated : May 15, 2009

New figures from the Central Statistics Office show that the decline in consumer prices accelerated last month, with a 3.5% annual drop.

This compares with a negative inflation rate of 2.6% in March.

Prices fell by 0.8% in April compared with March, with lower mortgage repayments and falling clothing prices the main factors.

Clothing and footwear prices dropped 3.6% in the month, while mortgage interest costs plunged 13% after lenders passed on the March interest rate cut from the European Central Bank.

Mortgage interest has now fallen by almost 40% over 12 months.

Furnishings and household equipment prices also fell 1.3% in the month due to sales, but Budget increases in cigarette duties pushed up prices in the alcohol and tobacco category.

 

 

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