Low levels of consumer confidence temper pricing and flatten inflation

LOW confidence levels led to tempered consumer prices and zero inflation during June, according to the Consumer Price Index for June, issued yesterday by the Central Statistics Office.

Consumer prices were down 0.1% for the month, though they were 2.7% higher than the same month in 2010. With inflation flat for June and at just 2.7% for the year to date, most analysts are predicting even more mute consumer trends for the remainder of 2011.

The European Union harmonised index of consumer prices decreased by 0.2% in the month, compared to a fall of 0.1% in June of last year. Prices on average were 1.1% higher last month compared with June 2010.