Davy Research

Irish economy

Irish economy - Irish CPI back into negative territory

DAVY VIEW

Irish CPI data for June show that inflation fell back into negative territory for the first time since November 2016. The impact of sterling weakness and oil price declines is feeding into falling goods prices, with domestically-driven services inflation remaining subdued. Overall, CPI might now undershoot our previous expectation of 1% average in 2017 as the impact of the recent oil price falls and sterling weakness washes through the series.

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