Inflation dips to four-year low at 1.9%

INFLATION fell below 2% last month, for the first time since 1999.

Figures released by the Central Statistics Office (CSO) yesterday showed the annual rate of inflation, as measured by the Consumer Price Index (CPI), fell to 1.9% in December, down from 2.2% in November and the lowest rate recorded since October 1999.

IIB Bank economist Austin Hughes said the figures suggested inflation was no longer a source of concern for the Irish economy.