Ireland Harmonized Inflation Softens

The EU-harmonised inflation rate in Ireland softened to 3.3% in June of 2026 from 3.5% in the previous month, according to a flash estimate. It was the softest inflation rate since February of this year, before the war in Iran drove militaries to blockade the Strait of Hormuz and trigger a global energy shock. Energy prices are expected to have rise 10% annually, slowing from the 11.9% surge in May's preliminary estimate. Also, food costs for households are expected to have gained 0.7%, slowing from 1.4% previously. Core inflation in the EU-harmonised aggregation was at 2.6%. From the previous month, the Irish HICP advanced 0.3%.

The EU-standard Harmonised Index of Consumer Prices (HICP) in Ireland rose by 3.5% year-on-year in May 2026, easing slightly from a 3.6% rise in April, according to preliminary estimates. Energy inflation is estimated to have eased to 11.9% from 15.5% in the previous month. Food inflation also softened, slowing to 1.4% from 2.0%. In contrast, services inflation accelerated to 3.7% from 3.3%. Excluding energy and unprocessed food inflation is is estimated to have edged up to 2.7% from 2.6% in April. On a monthly basis, harmonised consumer prices fell 0.1% in May, reversing the 0.5% increase in the previous month.

The EU-standard Harmonised Index of Consumer Prices (HICP) in Ireland rose 3.6% year-on-year in April 2026, unchanged from the previous month, according to preliminary estimates. Energy prices, however, accelerated to 15.5% from 12.3% in March, reflecting upward pressures mainly linked to recent developments in the Middle East. In contrast, food price inflation moderated slightly, rising 2% compared with 2.3% in the previous month, while services also edged down to 2.9% from 3.3%. Excluding energy and unprocessed food, harmonised inflation is estimated to have edged down to 2.3% from 2.6%. On a monthly basis, harmonised consumer prices edged up 0.4% in March, down from 1.8% in the preceding period.