Ireland records second lowest Eurozone inflation in past year

Ireland records second lowest Eurozone inflation in past year

Ireland recorded the second lowest consumer inflation rate in the EU during the past year.

New figures from Eurostat show that the inflation rate here for the 12 months up to September was only 0.2%.

Only Cyprus had a lower inflation rate at 0.1% while Lithuania had the highest at 4.6%.

Ruth Deasy of the EU Commission says the inflation figure for the UK suggests the uncertainty around Brexit has weakened the sterling currency.

“These are based on the Consumer Price Index and it shows that Ireland has the second lowest inflation in Europe at 0.2%,” said Deasy.

“This is in sharp contrast to the UK, where annual inflation is almost at 3% now.

“This is probably due mostly due to the fall in the value of sterling.”

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