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Prices

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This chapter contains the principal price indices (annual averages) for the non-agricultural sectors and the residential property sector. The details are drawn from the monthly reports on the Consumer Price Index, EU Harmonised Index of Consumer Prices, the Wholesale Price Index and the Residential Property Price Index.

16.1 Consumer Price COICOP Division Annual Average Indices
            
Base Mid-December 2011=100
           
2006200720082009201020112012201320142015
            
01Food and non-alcoholic beverages97.7100.5107.1103.398.699.8100.3101.499.197
02Alcoholic beverages and tobacco87.492.196.4102.699.999.8103.3108.7112.8113.3
03Clothing and footwear134.9130.5124.2109.699.297.597.394.491.387.9
04Housing, water, electricity, gas and other fuels85.0102.3112.187.588.697.297.898.598.5100
05Furnishings, household equipment and routine household maintenance114.2112.2110.4107.0102.6100.397.894.491.789.6
06Health85.287.792.996.296.8100.0100.5101.4101.2101.2
07Transport93.295.298.494.597.4100.7106.5105.2103.698.6
08Communications94.394.895.796.297.599.898.394.792.093.5
09Recreation and culture100.5102.0103.4103.0101.3100.499.299.298.798.4
10Education73.577.382.087.292.793.4101.2105.9110.8116
11Restaurants and hotels97.2101.3104.5104.4101.7101.0101.4103.4105.6107.3
12Miscellaneous goods and services82.983.785.692.293.299.2104.0106.0109.7111.3
 ALL ITEMS93.998.5102.497.996.999.4101.1101.6101.8101.5
 Of which:          
   Goods101.3102.4105.4100.898.699.9101.1100.298.194.4
   Services88.095.3100.195.595.699.1101.1102.8104.9107.4
   Energy products75.579.086.079.286.897.1106.2106.1104.596.0
   CPI excluding mortgage interest95.197.6100.799.598.299.6101.9102.8103.5103.6
   CPI excluding energy products95.9100.6104.399.998.199.7100.5101.0101.4102.0
   CPI excluding tobacco94.899.2103.198.097.099.5101.1101.5101.6101.2
Source: CSO

Interactive table: StatBank link

The Consumer Price Index (CPI) is designed to measure the change in the average level of prices of goods and services bought for the purpose of consumption by all private and institutional households in Ireland and by foreign tourists while on holiday within Ireland. 

Over the period 2006 to 2015, the All Items CPI increased by 8.1%.  The most notable changes were increases in Education (+57.8%), Miscellaneous Goods & Services (+34.3%), Alcoholic Beverages & Tobacco (+29.6%), Health (+18.8%) and Housing, Water, Electricity, Gas & Other Fuels (+17.6%). There were decreases in Clothing & Footwear (-34.8%) and Furnishings, Household Equipment & Routine Household Maintenance (-21.5%).

The cost of Services increased by 22.0% in the period 2006 to 2015 while the corresponding rate for Goods decreased by 6.8%.

16.2 EU Harmonised Index of Consumer Prices - annual average rate of change
           
Base year 2015=100
           
2006200720082009201020112012201320142015
        
Belgium2.31.84.50.02.33.42.61.20.50.6
Germany1.82.32.80.21.12.52.11.60.80.1
Estonia4.46.710.60.22.75.14.23.20.50.1
Ireland2.72.93.1-1.7-1.61.21.90.50.30.0
Greece3.33.04.21.34.73.11.0-0.9-1.4-1.1
Spain3.62.84.1-0.22.03.02.41.5-0.2-0.6
France1.91.63.20.11.72.32.21.00.60.1
Italy2.22.03.50.81.62.93.31.20.20.1
Cyprus2.22.24.40.22.63.53.10.4-0.3-1.5
Latvia6.610.115.33.3-1.24.22.30.00.70.2
Luxembourg3.02.74.10.02.83.72.91.70.70.1
Malta2.60.74.71.82.02.53.21.00.81.2
Netherlands1.61.62.21.00.92.52.82.60.30.2
Austria1.72.23.20.41.73.62.62.11.50.8
Portugal3.02.42.7-0.91.43.62.80.4-0.20.5
Slovenia2.53.85.50.92.12.12.81.90.4-0.8
Slovakia4.31.93.90.90.74.13.71.5-0.1-0.3
Finland1.31.63.91.61.73.33.22.21.2-0.2
Lithuania3.85.811.14.21.24.13.21.20.2-0.7
Euro area12.22.13.30.31.62.72.51.40.40.0
Bulgaria7.47.612.02.53.03.42.40.4-1.6-1.1
Czech Republic2.12.96.30.61.22.23.51.40.40.3
Denmark1.81.73.61.02.22.72.40.50.40.2
Croatia3.32.75.82.21.12.23.42.30.2-0.3
Hungary4.07.96.04.04.73.95.71.70.00.1
Poland1.32.64.24.02.63.93.70.80.1-0.7
Romania6.64.97.95.66.15.83.43.21.4-0.4
Sweden1.51.73.31.91.91.40.90.40.20.7
United Kingdom2.32.33.62.23.34.52.82.61.50.0
European Union22.22.33.71.02.13.12.61.50.50.0
1 From 2015, the Euro area comprises 19 member states.
2 From 2013, the European Union comprises 28 member states.
Source: Eurostat

Interactive table: StatBank link

The EU Harmonised Index of Consumer Prices (EU-HICP) is calculated in each member state of the European Union to allow the comparison of consumer price trends in the different member states.

Table 16.2 shows the annual average percentage changes (Base: Year 2015=100) for the EU, the Euro area and the individual members states for the period 2006 to 2015.

In 2015, the HICP in both the Euro Area and the EU remained unchanged compared with 2014.  The highest rate of inflation in the EU was in Malta, at +1.2%.  Cyprus had the lowest rate of inflation in the EU in 2015 at -1.5%. In Ireland in 2015, the HICP remained unchanged. 

 16.3 Industrial Producer Price Indices (excluding VAT)
      
     Base year 2010 = 100
Industrial sectorNACE Code201020112012201320142015
Food products10100.0104.2108.5110.4109.4111.1
   Meat and meat products101100.0109.0114.6118.1117.4121.3
   Fish and fish products102100.0104.4108.6117.6110.8119.8
   Fruit and vegetables103100.099.8102.8102.6104.5103.0
   Vegetable and animal oils and fats104100.0136.4131.4138.2114.1108.7
   Dairy products105100.0110.6105.9117.4121.5105.3
   Grain milling, starches and animal feeds106,109100.0107.5114.7123.3119.3117.5
   Bakery and farinaceous products107100.099.999.6100.5100.5100.9
   Other food products108100.0100.0106.4103.5101.3108.1
Beverages 11100.099.099.7102.5104.9107.9
Textiles 13100.0100.6101.9101.9102.8103.3
Wearing apparel 14100.0100.9102.8103.6105.0106.2
Leather and leather products (incl. footwear); dressing and dyeing of fur15100.0101.7104.6105.8106.3106.8
Wood and wood products16100.0100.0102.6104.3113.9121.8
Pulp, paper and paper products 17100.0101.2102.5100.7101.6103.5
Printing and reproduction of recorded media 18100.0101.0104.2100.9105.0120.5
Chemicals and chemical products20100.0101.8103.5101.1102.5105.7
Basic pharmaceutical products and pharmaceutical preparations21100.096.294.993.389.897.4
Rubber and plastic products 22100.0101.8103.4103.8103.7104.7
Other non-metallic mineral products 23100.0100.9104.5105.5106.2104.8
Basic metals24100.0108.6111.3108.8107.9118.3
Fabricated metal products, except machinery and equipment25100.0101.5102.2103.0104.7107.7
Computer, electronic and optical products 26100.0100.3107.2108.9109.3126.1
Electrical equipment 27100.0109.3107.0104.4105.4109.4
Machinery and equipment n.e.c. 28100.099.1102.7103.9104.7110.5
Motor vehicles, trailers and semi-trailers29100.098.298.095.293.394.5
Furniture 31100.098.699.999.1102.2106.2
Other manufacturing 32100.0103.3102.6103.6104.6105.4
      
Mining and quarrying 05 to 09100.0116.2121.6119.4120.8118.9
      
Total manufacturing industries  100.0100.5102.4102.0100.7106.1
Manufacturing industries (home sales) 100.0106.2109.2110.7110.1105.3
Manufacturing industries (export sales) 100.099.6101.3100.699.2106.2
      
Total transportable goods industries  100.0100.7102.5102.1100.8106.2
Source: CSO

Interactive table: StatBank link

Table 16.3 shows the index numbers for the Industrial Producer Price Indices and the major sectors of the manufacturing industry for the period 2010 to 2015. Over this period, increases were recorded in all but two of the published sectors. The most notable increases were in Computer, electronic and optical products (+26.1%) and Wood and wood products (+21.8%). The most notable decrease was in Motor vehicles, trailers and semi-trailers (-5.5%). Between 2010 and 2015, the index for Total manufacturing industries increased by 6.1%, while the index for Total transportable goods industries increased by 6.2%.

16.4 Wholesale Price Indices (excluding VAT) for Building and Construction Materials
      
                   Base year 2010 = 100
Materials201020112012201320142015
Stone, sand and gravel100.096.8104.4111.0123.2132.7
of which  
       Stone100.096.6105.5112.5120.2131.1
       Sand and gravel100.097.798.3103.1139.5141.1
Cement100.0100.6100.5100.5100.6100.6
Ready mixed mortar and concrete100.097.5101.6103.9103.6101.4
Concrete blocks and bricks100.099.8105.0106.6109.5108.4
Other concrete products100.097.399.098.699.0100.3
of which    
       Precast concrete100.092.892.592.192.093.1
       Other concrete products (Excluding precast concrete)100.099.4100.7100.1100.3101.3
Structural steel and reinforcing metal100.0106.7106.9106.0103.2103.9
of which    
       Structural steel100.0103.9103.6102.799.5101.9
        of which    
              Fabricated metal100.0103.8103.5103.099.7102.7
              Other structural steel100.0104.7104.1100.698.195.5
       Reinforcing metal100.0111.2112.2111.3109.2107.1
       Other steel products100.0101.9101.2101.4101.8103.8
Rough timber (including plain sawn)100.0104.1105.4106.7109.2110.9
of which    
       Hardwood100.0107.7115.2113.2130.4145.2
       Other100.0103.7104.5106.0107.2107.7
Other timber100.0102.6103.9103.5103.5101.4
of which    
       Windows and doors100.0100.1100.2100.2100.3100.3
       Other100.0105.6108.3107.5107.5102.7
Bituminous macadam, asphalt and bituminous emulsions100.0111.6129.6137.8143.4148.1
of which     
       Bituminous macadam and asphalt100.0111.5130.0138.8144.7150.7
       Bituminous emulsions100.0112.6121.6117.8116.096.4
Electrical fittings100.0100.1100.9102.4104.2106.9
of which    
       Lighting equipment100.0104.1101.5101.8104.0108.5
       Protection & communication equipment 100.095.694.694.795.696.8
All other materials100.0105.7107.2108.2109.1110.6
of which    
       Plumbing materials incl. sanitary ware100.0100.1100.499.5100.2101.7
       HVAC (heating & ventilation equipment) 100.099.3102.4100.199.499.5
       Insulating materials100.0109.5112.8116.8119.7122.2
       Pipes and fittings100.0113.8116.8118.3118.4121.1
       of which    
              PVC100.094.095.1102.0103.3106.2
              Copper100.0121.4125.1124.5124.2126.8
       Plaster100.099.898.4100.1102.1106.1
       Paints, oils and varnishes100.0103.8108.6105.3104.7103.9
       Glass100.0102.1110.1117.6123.6128.3
       All other metal fittings100.0100.699.299.899.9100.9
       All other products100.0104.7105.4106.3107.3108.5
All materials100.0102.3104.6106.0107.5108.9
Source: CSO

Interactive table: StatBank link

Table 16.4 shows the index numbers for Building and Construction Materials for the period 2010 to 2015. The most notable increases in this period were in Hardwood (+45.2%), Sand and gravel (+41.1%) and Stone (+31.1%). The most notable decreases were in Precast concrete (-6.9%) and Other structural steel (-4.5%). Between 2010 and 2015, the index for All materials increased by 8.9%.

16.5 Residential Property Price Index
         
Base January 2005=100
YearNational - All residential propertiesNational - housesNational - apartmentsNational excluding Dublin - all residential propertiesNational excluding Dublin - housesDublin - all residential propertiesDublin - housesDublin - apartments
2005105.5105.9102.1104.7105.2106.9107.5105.3
2006121.2122.0116.3118.4118.9126.2128.7118.9
2007130.3131.5123.0128.5129.3133.2136.3124.2
2008121.2123.0112.0121.1122.0121.0125.0111.8
200998.0100.982.2101.0102.491.495.781.3
201084.887.769.289.190.475.779.466.7
201171.073.557.973.875.064.467.557.3
201261.263.546.162.063.356.959.847.6
201362.965.349.358.359.463.166.850.8
201473.476.459.863.064.677.282.363.9
201580.083.467.070.572.684.289.772.0
Source: CSO       

Interactive table: StatBank link

The Residential Property Price Index (RPPI) measures the change in the average level of prices paid for residential properties sold in Ireland. The index is mix-adjusted to allow for the fact that different types of property are sold in different periods. The index comprises various sub-indices, covering properties in Dublin and outside the capital, houses and apartments.

 

Table 16.5 shows the index numbers (Base: January 2005 = 100) for the RPPI and its sub-indices from 2005 to 2015. Within this period, the overall National Index peaked in 2007 and fell to its lowest level in 2012 declining by 53.0% over these five years. The index showed its greatest annual increase between 2005 and 2006 (+14.9%) and its greatest annual fall between 2008 and 2009 (-19.1%). However, from the historic low in 2012 the National Index rose by 30.7% by 2015.

 

Dublin residential property prices rose faster than property prices outside the capital between 2005 and 2007.  However, Dublin residential property prices also registered a greater fall, declining 57.3% from 2007 to 2012, before recovering 48.0% of their value again from 2013 to 2015.  Residential property prices outside the capital declined 51.8% from 2007 to 2012. They fell a further 6.0% in 2013, but recovered 11.9% of their value from 2014 to 2015.

 

MonthNationalDublinExcluding Dublin
Jan-05100100100
Feb-05100.8102.1100.1
Mar-05101.4102.9100.5
Apr-05102.1103.6101.2
May-05102.8104.4101.9
Jun-05103.7104.5103.3
Jul-05105.3105.7105.1
Aug-05107.1107.8106.7
Sep-05108.2109.7107.4
Oct-05110.6112.8109.3
Nov-05111.5114.3110
Dec-05112.6114.9111.4
Jan-06113.2115.4111.9
Feb-06113.5116.4111.8
Mar-06114.1117.1112.4
Apr-06115.8119.2113.9
May-06118.2122.3115.8
Jun-06120.3125.5117.4
Jul-06123129.5119.5
Aug-06125.8133.3121.6
Sep-06126.8133.5123.1
Oct-06127.6134.4123.8
Nov-06127.6133.9124.1
Dec-06128.6134.1125.5
Jan-07129.7134.3127.1
Feb-07130.3135127.7
Mar-07130.5133.7128.6
Apr-07131134129.2
May-07130.6132.7129.3
Jun-07130.3133128.7
Jul-07130.6133.7128.8
Aug-07130.4133128.8
Sep-07130.4133.3128.7
Oct-07130133.3128.1
Nov-07130132.2128.7
Dec-07129.2130.5128.4
Jan-08128.1127.5128.2
Feb-08127126.8126.9
Mar-08125.9126.1125.6
Apr-08124.8126.1124.1
May-08123.5126.2122.1
Jun-08122.3124.9120.9
Jul-08121.6123.4120.5
Aug-08120.3121.7119.5
Sep-08118.8117.5119.1
Oct-08116.2113.4117.2
Nov-08114.1110.2115.7
Dec-08111.9108113.5
Jan-09109105110.8
Feb-09106100.3108.5
Mar-09103.296.6106.3
Apr-09100.992.9104.6
May-0998.590.9102.1
Jun-0996.989.8100.2
Jul-0995.588.998.5
Aug-0994.38996.6
Sep-0994.288.696.8
Oct-0993.186.696.2
Nov-0992.88596.4
Dec-0991.583.295.5
Jan-1090.681.195.2
Feb-108979.193.7
Mar-1087.57792.8
Apr-108776.392.5
May-1085.475.890.1
Jun-108575.190
Jul-1084.874.790
Aug-1084.375.188.9
Sep-1083.375.486.6
Oct-1081.774.384.7
Nov-108072.883
Dec-1078.671.281.8
Jan-1178.270.181.9
Feb-1176.868.880.5
Mar-1174.867.278.2
Apr-1173.866.876.8
May-1172.765.875.6
Jun-1171.565.573.7
Jul-1170.764.872.7
Aug-1169.463.671.5
Sep-1167.961.870.4
Oct-116760.769.6
Nov-1165.659.368.4
Dec-1164.158.166.5
Jan-1262.656.964.8
Feb-1261.255.363.5
Mar-1261.655.663.9
Apr-1260.555.262.2
May-1260.555.262.2
Jun-1260.555.561.9
Jul-126156.861.7
Aug-1260.957.461
Sep-1261.45861.2
Oct-1261.458.560.9
Nov-1261.358.760.4
Dec-1261.759.460.4
Jan-1360.858.859.3
Feb-1360.25859
Mar-1359.758.257.6
Apr-1359.858.956.9
May-1359.859.556.2
Jun-1361.561.857.1
Jul-1363.364.357.7
Aug-1364.565.958
Sep-1365.56759.1
Oct-1365.867.459.2
Nov-1366.26859
Dec-1367.26959.9
Jan-1466.96959.5
Feb-1466.86959.3
Mar-1467.369.959.2
Apr-1468.771.760.1
May-1470.573.861.1
Jun-147377.261.9
Jul-1475.580.563
Aug-1476.981.764.4
Sep-1478.483.465.6
Oct-1479.283.867
Nov-1479.383.667.5
Dec-1478.782.667.7
Jan-1578.482.867.8
Feb-1577.882.667.2
Mar-1577.682.667.3
Apr-1577.782.567.8
May-1578.482.869
Jun-1579.583.870
Jul-1580.184.170.9
Aug-1581.18571.9
Sep-1581.785.272.8
Oct-1582.786.273.8
Nov-1582.686.473.5
Dec-1582.385.873.6
Jan-1682.886.673.7
Feb-168285.673.4
Mar-1681.985.573.5
Apr-1682.285.873.8
May-1682.685.674.8
Jun-1683.485.976.2
Jul-1685.587.378.9

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