CSO: Prices rise by 0.6% in the year to November

Joined
Feb 21, 2003
Messages
4,249
Website
www.politics.ie
Twitter
davidcochrane
Consumer Price Index November 2010 data published by CSO today is now online: http://www.cso.ie/releasespublications/documents/prices/2010/Prices/consumerpriceindex/cpi_nov2010.pdf

Consumer Prices in November, as measured by the CPI, decreased by 0.1% in the month. This compares to no change recorded in November of last year. Prices on average, as measured by the CPI, were 0.6% higher in November compared with November 2009.

The EU Harmonised Index of Consumer Prices (HICP) decreased by 0.2% in the month, compared to a decrease of 0.1% recorded in November of last year. Prices on average, as measured by the HICP, were 0.8% lower in November compared with November 2009.

The most notable changes in the year were increases in Housing, Water, Electricity, Gas & Other Fuels (+9.2%), Communications (+2.9%) and Miscellaneous Goods & Services (+2.4%). There were decreases in Clothing & Footwear (-5.5%), Alcoholic Beverages & Tobacco (-3.3%) and Education (-3.0%).

The annual rate of inflation for Services was 2.0% in the year to November, while Goods decreased by 1.1%.

The most significant monthly price changes were decreases in Alcoholic Beverages & Tobacco (-1.0%), Restaurants & Hotels (-0.4%) and Transport (-0.3%). There was an increase in Clothing & Footwear (+1.9%).
The main factors contributing to the monthly change were as follows:
  • Alcoholic Beverages &Tobacco fell due to lower prices for spirits and wine sold in off licences and supermarkets.
  • Restaurants & Hotels fell mainly due to a reduction in the price of hotel and other accommodation.
  • Transport fell mainly due to a fall in the price of second-hand cars.
  • Clothing & Footwear increased due to a recovery in prices.
The CPI excluding tobacco index for November decreased by 0.2% in the month and was up by 0.6% in the year. The CPI excluding energy products fell by 0.2% in the month and decreased by 0.1% in the year. The CPI excluding mortgage interest decreased by 0.2% in the month and was down by 0.7% in the year.
 


Socratus O' Pericles

Well-known member
Joined
Oct 12, 2009
Messages
32,914
Are we still at 2007 price levels or is that another lie?
 

He3

Well-known member
Joined
Oct 1, 2008
Messages
17,077
Clothing & Footwear increased due to a recovery in prices.

This means what exactly - prices of clothes and shoes increased because they increased?
 

Ulster-Lad

Well-known member
Joined
Oct 26, 2006
Messages
9,989
It means Inflation. Which means a rise in interest rates by the ECB may not be far off.
 

CorkHurler

Well-known member
Joined
May 12, 2004
Messages
545
Underlying prices as measured by the HICP are down both over the last month and the year. This means the cut in welfare payments will have a lower actual effect on purchasing power of recipients.
 

gijoe

Well-known member
Joined
Jul 26, 2010
Messages
15,230
It means Inflation. Which means a rise in interest rates by the ECB may not be far off.
The German inflation rates plus the commodity price inflation, principally the recent oil spike combined with fall in the dollar, will mean that the ECB will have to increase rates sooner rather than later.
 

Baron von Biffo

Well-known member
Joined
May 16, 2007
Messages
13,106

Cassandra Syndrome

Well-known member
Joined
Aug 23, 2009
Messages
16,885
Underlying prices as measured by the HICP are down both over the last month and the year. This means the cut in welfare payments will have a lower actual effect on purchasing power of recipients.
Really?

Have you looked at the Food and energy commodity prices on the CME of late and the falling Euro against the dollar?

How much of lower income wages / welfare is spent on food and energy as opposed to a neofeudalist sycophant gombeen who has the pretense of economic knowledge, in comparison?

Oil is going to head for $100 again and food commodities are nearing their all time highs back in 2008 and that has yet to hit the later stages of production such as retail.

But hey, you can buy lots of useless durable goods at half price that in turn keeps the rate of inflation low as measured by dated 2005 weights, which still happens to neatly suit the spin tripe of whatever is left of the more fanantical elements of the soon to be wiped out government apologists. around here.
 

HanleyS

Well-known member
Joined
Jan 11, 2007
Messages
815
"Clothing & Footwear increased due to a recovery in prices."
WTF? Higher prices is a recovery. Will the insanity ever end?
 

hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,180
We really need to change the way CPI is calculated.

It does not bear any semblence as to what real peoples inflation rate is.

Say me for example

Mortgage - tracker - 0% increase
Education - up
Food - up
Healthcare - up
Petrol - up
Bus fares - up
Sky TV - up
ESB - up
Property insurance - up
Car insurance - up

Inflation must be running at 5%+ at least.
 

gijoe

Well-known member
Joined
Jul 26, 2010
Messages
15,230
We really need to change the way CPI is calculated.

It does not bear any semblence as to what real peoples inflation rate is.

Say me for example

Mortgage - tracker - 0% increase
Education - up
Food - up
Healthcare - up
Petrol - up
Bus fares - up
Sky TV - up
ESB - up
Property insurance - up
Car insurance - up

Inflation must be running at 5%+ at least.
Don't worry about it hammer - you will be playing the 2nd Division soon enough and can get rid of the Sky subscription.....:D
 

hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,180
:) - we`re never on anyway and I cant stomach to see how they are playing presently.

The kids like the rugby and support decent teams Arsenal, Liverpool & ManUtd. I organised that well :)
 


New Threads

Popular Threads

Most Replies

Top