The headline figure from the CSO’s November CPI release is that annual inflation is now running at +0.6% and has been positive for that past four months.
However, ignoring mortgage interest and energy products, the remaining 85% of the index is continuing to exhibit annual deflation.
Core deflation did ease slight in November but was still running at –1.33% in November, a slightly decreasee on the –1.42% recorded in October.
Although the annual rate has been positive since August, for the past six months the only month to show a monthly increase was September when prices rose 0.7% in the month. For the other five months prices were either unchanged or falling. The annual rate is positive because of monthly increases that occurred between February and May. This upward pressure on prices has eased.
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