RTTNews - Thursday, Ireland's Central Statistics Office announced that the consumer price index or CPI dropped 4.7% year-over-year in May, compared with a 3.5% fall in the previous month. A year ago, the CPI was up 4.7%.

On a monthly basis, consumer prices declined 0.5% in May, after falling 0.8% in April.

The CPI excluding tobacco index dropped 5.2% annually in May and it was down 0.6% over the preceding month, while the CPI excluding mortgage interest fell 1.2% over a year ago.

The Harmonized index of consumer prices or HICP decreased 1.7% year-on-year in May, compared with a 0.7% drop in the previous month. Month-on-month, the HICP was down 0.4% in May, in contrast to a 0.1% increase in the previous month.

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