Brian O'Shea
Question:52 Deputy Brian O’Shea asked the Minister for Finance his views on the recent return of annualised price inflation; and if he will make a statement on the matter. [34034/10]
View answerThursday, 30 September 2010
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Written answers
Recently published data show that in the year to August, consumer prices increased by 0.2 per cent, the first annual increase in prices since end-2008. This was not unexpected, and a number of factors, including higher mortgage interest costs and base effects, contributed to the increase.
The EU measure of consumer prices — the harmonised index of consumer prices (HICP) — remains in negative territory, with prices on this measure falling by 1.2 per cent in the year to August. This compares with a positive annual rate in the euro area, and shows that our competitiveness is improving.