Brian O'Shea (Waterford, Labour)
Link to this: Individually | In context

Question 52: To ask the Minister for Finance his views on the recent return of annualised price inflation; and if he will make a statement on the matter. [34034/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

Recently published data show that in the year to August, consumer prices increased by 0.2 per cent, the first annual increase in prices since end-2008. This was not unexpected, and a number of factors, including higher mortgage interest costs and base effects, contributed to the increase.

The EU measure of consumer prices - the harmonised index of consumer prices (HICP) - remains in negative territory, with prices on this measure falling by 1.2 per cent in the year to August. This compares with a positive annual rate in the euro area, and shows that our competitiveness is improving.