Annual inflation in Ireland jumped to 7.8 percent in May of 2022, the highest since September of 1984 and accelerating from a 7 percent rise in the previous month. The main contributions to higher inflation were from housing and utilities (20.9 percent vs 17.1 percent in April) and transportation (16.5 percent vs 18.9 percent), as surging oil prices lifted costs for home heating and vehicle fuels. The CPI also accelerated for restaurant and hotels (5.9 percent vs 5.1 percent), and food and non-alcoholic beverages (4.4 percent vs 3.5 percent). On a monthly basis, consumer prices were up by 0.9 percent, rising by the same magnitude from the previous month. source: Central Statistics Office Ireland
Inflation Rate in Ireland averaged 4.31 percent from 1976 until 2022, reaching an all time high of 23.15 percent in October of 1981 and a record low of -6.56 percent in October of 2009. This page provides the latest reported value for - Ireland Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ireland Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Inflation Rate in Ireland is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ireland Inflation Rate is projected to trend around 3.00 percent in 2023 and 2.30 percent in 2024, according to our econometric models.