Irish Consumer Prices Fall at Fastest Rate in Four Years
Published on Feb 24 2015 9:21 AM in Retail
The Irish Consumer Price Index (CPI) has fallen into negative figures for the second month in a row, raising fears that Irish retailers could feel the effect from the subsequent change in consumer spending.
According to the CSO, food and non-alcoholic beverages fell by 2.4%, thought to be due to, “lower prices across a range of products such as vegetables, bread and cereals and meat”. The biggest percentage change in this category was for potatoes, which saw a considerable decrease of 10.7%.
However, the latest CPI statistics are not all negative for FMCG retailers, as alcoholic beverages and tobacco have risen this year by 1.5%.
These latest figures serve as only the third time since 2010 that the CPI has fallen into negative figures, dipping only in December and February last year.
© 2015 - Checkout Magazine by Hannah Popham.