Irish inflation up 4.9% in first uptick in six months

Food prices remained the same in the last month, but rose by 7.7% in the last 12 months
Compared to the previous year social spending was up by 42%, or by €234.5 million, driven by the increase in restaurant spend of the order of €190 million.

This compares with HICP inflation of 4.6% in Ireland in the 12 months to July 2023

Prices in Ireland estimated to have risen by 4.9% in the 12 months to August 2023. This is according to the Central Statistics Office (CSO), which today published the flash estimates of inflation from the EU Harmonised Index of Consumer Prices (HICP) for Ireland for August 2023.

The latest flash estimate of the Harmonised Index of Consumer Prices (HICP) indicates that prices for consumer goods and services in Ireland are estimated to have increased by 4.9% in the past year.

Looking at the components of the flash HICP in Ireland for August 2023, energy prices are estimated to have risen by 3.4% in the month and increased by 5.1% since August 2022. The HICP excluding energy and unprocessed food prices is estimated to have increased by 4.8% since August 2022.

Food prices are estimated to have remained the same as last month and were up by 7.7% in the last 12 months. Transport costs have risen by 0.7% in the month and decreased by 1.5% in the 12 months to August 2023.

Sign Up for Drinks Industry Ireland

Get a free weekly update on Drinks Industry trade news, direct to your inbox. Sign up now, it's free