Record Fall In Consumer Price Index

January 31, 2013

The Consumer Price Index (CPI) fell 1.4 per cent in January compared to December, its biggest decline in any month since the start of the economic crisis.

The latest figures show the inter-annual rate standing at 2.6 per cent, down from 2.9 per cent in December and the lowest since July of last year.

According to experts the fall in the index is due, in part, to the, relatively, stable cost of fuel and electricity.

The latest data reveals that the CPI has managed to stay below 3 per cent for the third consecutive month, after peaking in in October when it rose to 3.5 per cent following increases to VAT.