2/18/2016, 12:42 PM (Source: TeleTrader)
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Ireland: Prices rise 0.1% in January; market snapshot

The Irish Stock Exchange's ISEQ Overall index rose 0.76% to 6,157 points in the day’s trade, with economic data showing the annual inflation stood at proper 0%, while the change of prices in January was 0.1%.

The consumer price index fell 0.8% in January compared to previous month, while the prices crawled up just 0.1% for the whole year, according to data published by the Central Statistics Office on Thursday. The harmonised CPI revealed a monthly fall of 0.9% in January and flat rate of price rise for the whole 2015 (the HICP is calculated to conform the statistics for all members of the European Union).

The cost of all forms of insurance jumped 9.7%, while education expenses rose 3.8% with extra costs for the high education. Clothing and footwear prices slumped 4.1%, and transportation was 2.5% cheaper in January compared to December.

The residential property prices jumped 6.6% in December, reminding many of the country's property bubble in the wake of the financial crisis of 2008.

The monthly unemployment rate in Ireland stood at 8.6% in January.

In the company news, the KBC Bank Ireland reported annual net profits of €71 million, and deposits of €5.1 billion compared to €4 billion a year ago. The Irish branch of the Belgian-based bank attracted 74,000 new customers last year, with significant growth in the mortgage business. It employs around 1,000 people in the island nation.

Shares of RayanAir rose 2.17% after the low-cost airline announced new routes from Greek capital Athens, and plans for a four-fold expansion in the German market.

The economic data and other business-related news come in the midst of the election campaign, with voting scheduled for February 26.

Breaking the News / ZR