Consumer prices fell again in September to record the sharpest annual fall since 2010 with prices down 1.2% compared to the same time a year ago, new figures from the Central Statistics Office show today.
Consumer prices have dropped on an annual basis for six months in a row since the Government imposed closures and restrictions throughout the economy in an effort to slow the spread of Covid-19.
The CSO said that clothing and footwear prices fell by 5.8% on an annual basis last month due to sales, while transport costs decreased by 3.5% mainly due to lower prices for petrol and diesel.
September also saw lower prices for home heating oil and a fall in the cost of electricity and gas, but the CSO noted that these reductions were partially offset by higher mortgage interest repayments.
Today's figures also show that private residential rents, which have surged to record levels in recent years, fell by 2.6% year-on-year.
The cost of communications also fell by 8.1% in September compared to the same time last year, but the cost of education rose by 4.1% while health costs increased by 3.4% mainly due to an increase in the cost of medical and dental services.
Today's CSO figures also show that consumer prices decreased by 0.4% in September on a monthly basis, due to lower transport and drink and tobacco prices.
