Prices fall by 0.5% in May
15 June 2009
Consumer prices fell by 0.5% in the month of May, according to the latest Consumer Price Index published by the Central Statistics Office (CSO).
It says prices in May 2009 were on average 4.7% lower than they were in May 2008.
The CSO says the primary factor contributing to fall rate is the decreasing contribution of housing, water, electricity, gas and other fuels, clothing and footwear and transport.
Year on year, the rate of inflation for services was -4.8%. The rate for goods was also negative at -4.5%, but it has increased by 0.1% for the past three months.
Food and drink
Prices for food and non-alcoholic beverages decreased by 0.4% in the month and by 2.5% in the year to April. This compares to an increase of 7.8% for the year to May 2008.
Items previously covered by the Groceries Order decreased by 0.2% in the month and are at -1.1% in the year to May. The CSO says the falling rate of inflation of goods in the food category is primarily driving this downward trend.
By comparison, items not covered by the Groceries Order decreased by 0.8% in the month and are at -3.7% in the year to April.