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Recent News |
0.2% INFLATION IN 2009
The EU-harmonised consumer price inflation rate reached just 0.2% in 2009, compared with 4.3% in 2008, according to figures from the Statistical Service.
This resulted from a mixture of declining and rising prices in various categories. The main decline in prices came from the housing industry, water, electricity and gas which fell by 7.6%. Furthermore, transport prices fell by 7.3% and prices of clothing and footwear dropped by 3.1%. Prices of electricity, gas and fuel were affected by the fall in international oil prices relative to 2008.
On the contrary, the 2 categories which proved to be unaffected by the recession were education and health. Education prices increased by 4.9% in 2009; the rate was even higher than in 2008 when prices pretty much kept pace with overall inflation. Healthcare prices also rose in 2009 with a rate of 6.6%.
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