Ireland: Harmonized inflation drops to lowest level since August 2021 in October
Harmonized inflation came in at 3.6% in October, which was down from September’s 5.0%. October’s result represented the lowest inflation rate since August 2021. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a slower rate in October, although prices for transportation roseat a stronger rate. Meanwhile, housing and utilities prices increased at a softer pace.
In addition, the trend pointed down, with annual average harmonized inflation coming in at 6.1% in October (September: 6.6%). Meanwhile, consumer price inflation fell to 5.1% in October, from the previous month’s 6.4%.
Lastly, harmonized consumer prices rose 0.17% in October over the previous month, following September’s 0.08% increase.