IF YOUR WALLET is a little lighter than usual right now, you’re not alone.
The price of consumer goods and services went up by 0.5 per cent last month according to new figures released by the Central Statistics Office.
This is the first time in recent months that prices have risen; in recent times prices have either dropped slightly or stayed the same each month.
The biggest increase was in clothing and shoes, which went up by almost 6 per cent after the January sales. Household furniture and maintenance increased by 1.4 per cent while transport prices also rose by just over 1 per cent.
The biggest drop was in the price of alcohol and tobacco, which fell by 0.4 per cent.
However while prices increased in February, they are actually down 0.1 per cent compared to this time last year.
The Central Statistics Office says it is the first time in almost four years – since July 2010 – that the Consumer Price Index has seen a year-on-year drop.
While prices of education, alcohol, and tobacco have all risen since this time in 2013, other areas have fallen, including communications (down 4 per cent), household furniture (down 3.6 per cent), clothes and shoes (down 3.4 per cent) and transport (down 2 per cent).
A report earlier this month found that Irish consumers are now happier than they have been in seven years, since before the recession began. The ESRI/KBC report found there was a small increase in spending underway but cautioned that it was not a dramatic pick-up.
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