On-trade

Prices in Ireland jumped 5.4% in the 12 months to May 2023

Minister Helen McEntee explained that the pub has a central role in Irish cultural life and the reforms will support pubs and the hospitality industry.

This compares with HICP inflation of 6.3% in Ireland in the 12 months to April 2023

Prices in Ireland are estimated to have risen by 5.4% in the 12 months to May 2023.

The Central Statistics Office (CSO) has published the flash estimates of inflation from the EU Harmonised Index of Consumer Prices (HICP) for Ireland for May 2023.

The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have risen by 5.4% in the 12 months to May 2023 and risen by 0.3% since April 2023.

This compares with HICP inflation of 6.3% in Ireland in the 12 months to April 2023 and an annual increase of 7.0% in the HICP for the Eurozone in the same period.

Looking at the components of the flash HICP for Ireland in May 2023, energy prices are estimated to have decreased by 3.1% in the month and increased by 1.9% over the 12 months to May 2023.

Food prices are estimated to have increased by 0.4% in the last month and are up by 12.5% in the last 12 months.

The HICP excluding energy and unprocessed food is estimated to have risen by 5.7% since May 2022.

Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for May 2023 on 1 June 2023.

“The latest flash estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have increased by 5.4% in the past year,” said Anthony Dawson, Statistician in the Prices Division.

“Looking at the components of the flash HICP in Ireland for May 2023, energy prices are estimated to have decreased by 3.1% in the month and increased by 1.9% since May 2022. The HICP, excluding energy and unprocessed food prices is estimated to have risen by 5.7% since May 2022.

“Food prices are estimated to have increased by 0.4% in the last month and are up by 12.5% in the last 12 months. Transport costs fell by 1.3% in the month and are down by 1.4% in the 12 months to May 2023.

“The corresponding rate for the Eurozone will be published on 01 June 2023. These flash estimates are subject to revision when the final HICP results are published next month.”


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