Ireland Inflation Rate Eases in May

The annual inflation rate in Ireland edged down to 3.6% in May 2026 from 3.7% in the previous month. Price growth eased for food and non-alcoholic beverages (1.3% vs 2% in April), alcoholic beverages and tobacco (2.4% vs 2.7%), clothing and footwear (7.4% vs 7.9%), housing utilities (7.1% vs 8.1%), recreation and culture (0.6% vs 1.2%), and restaurants and hotels (3.7% vs 3.9%). In contrast, costs increased in insurance and financial services (5.8% vs 5.3%), health (1.7% vs 1.6%), information and communication (1.3% vs 1%), and transportation (6.1% vs 3.8%), while inflation remained steady for education (8.9%). On a monthly basis, consumer prices dropped 0.1% in May, following a 0.5% growth in the preceding period.

The annual inflation rate in Ireland edged up to 3.7% in April 2026 from 3.6% in the previous month. This marked the highest reading since January 2024, lifted by higher costs for alcoholic beverages and tobacco (2.7% vs 2.3% in March), housing utilities (8.1% vs 7.2%), transportation (3.8% vs 2.8%), information and communication (1% vs 0.7%), restaurants and hotels (3.9% vs 3.5%), and miscellaneous goods and services (1.5% vs 0.9%). Additionally, prices declined at a slower pace for furnishing and household equipment (-0.6% vs -0.9%), while price growth remained steady for education (8.9%). In contrast, costs moderated for food and non-alcoholic beverages (2% vs 2.3%), clothing and footwear (7.9% vs 9%), health (1.6% vs 1.7%), and recreation and culture (1.2% vs 4.2%). On a monthly basis, consumer prices grew by 0.5% in April, easing from a 1.6% gain in the preceding period.

The annual inflation rate in Ireland surged to 3.6% in March of 2026 from 2.7% in the previous month, reflecting the highest inflation in over two years. The surge was aligned with faster price growth in all of Europe as the outbreak of war in the Middle East triggered a shock in the supply of energy that lifted its costs. Prices for energy products surged 12.3%, corresponding to nearly 19% of the Irish consumer basket and lifting costs for housing and utilities (7.2%) and transportation (2.8%). In turn, food and non-alcoholic beverages inflation remained relatively close to target at 2.3%. From the previous month, the Irish CPI jumped by 1.6% due to an 11.1% monthly surge in energy products.