Rate of inflation now at lowest point since 1933

r0nanf

Source: CSO

That has to be seen as the most epic of fails. In 1933 we were an infant state under heavy economic sanctions through the Anglo-Irish trade war, and had a staunch isolationist policy. Congratulations government, on another successful ruination!

Liam Byrne

I've never been able to figure out how inflation was viewed as a good thing; it makes living (or even surviving) more difficult.

Yes, there's a lot of epic ruination by this Government, but if stuff gets cheaper from its rip-off Ireland status and goes down to normal levels, I've no complaints!

Inflation = expense = pay rises = uncompetitiveness.

r0nanf

Agreed, in the short term for consumers deflation can be a good thing. However sustained deflation and the price decreases for goods generally lead to lower production, and therefore lower wages for workers, and therefore lower wages and on and on. Provided the deflationary period is short it may be beneficial in the long run for us, but I have a feeling that we haven't come close to finding a realistic solution for our economic problems.

Purple Gorilla

The way I see it, deflation was always bound to happen. For the passed few years we've had hugely inflated prices simply because we didn't care. Now that people aren't spending as much, companies are seeing that they have to lower their prices to realistic levels