Ireland sees biggest deflation rate since 1933

Ireland's consumer prices fell 2.6 percent in March from a year ago, the sharpest rate of deflation since 1933, when the world was struggling through the Great Depression, official figures showed Thursday.

The March rate accelerated from an annual deflation rate of 1.7 percent in February, the Central Statistics Office said.

However, the report said there was no change in prices from February to March. They are now at August 2007 levels.

Ireland's turn into deflation began in January, with a 0.1 percent drop in the average cost of goods and services, and reflects the country's sudden fall into a deep recession.

The country last …