Irish Prices Drop!
Updated : Jun 11, 2009
Average prices in Ireland have fallen by 4.7% in the 12 months to May of this year, according to the latest inflation figures from the CSO.
The statistics agency says average prices fell by 0.5% during the month of May, compared to a 0.8% increase in the same month last year.
This brought the annual rate of decline down to 4.7% last month, compared to 3.5% in April.
The main driver of the falling inflation rate are lower mortgage repayments, lower rents and reductions in oil and gas costs.
Clothing and footwear prices are also down around 10% over the past year.
VeryHappyPig says don’t tell Mrs VHP or she’ll go shopping crazy! But Ireland’s good news bearing pig is going shopping