Latest reading: Inflation rose to 5.4% in June, following May’s 5.3%. Looking at the details of the release, prices for...
Inflation in Ireland
Harmonized consumer price inflation averaged 1.7% in the ten years to 2024. The 2024 average figure was 1.3%. For more inflation information, visit our dedicated page.
Ireland Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Ireland from 2024 to 2023.
Source: Macrobond.
Ireland Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -0.5 | 2.4 | 8.1 | 5.2 | 1.3 |
| Inflation (HICP, ann. var. %, eop) | -1.0 | 5.7 | 8.2 | 3.2 | 1.0 |
| Inflation (Core, ann. var. %, aop) | -0.4 | 2.3 | 7.8 | 5.3 | 1.7 |
| Inflation (WPI, ann. var. %, aop) | -8.7 | -5.2 | 9.0 | -1.3 | 0.9 |
Harmonized inflation drops to lowest level since December 2024 in May
Latest reading: Harmonized inflation dropped to 1.4% in May, below April’s 2.0% and the lowest rate in five months. Transportation costs dropped after rising in the previous month, likely dampened by the recent decline in crude oil and natural gas prices. Annual average harmonized inflation remained at April's 1.2% in May. Meanwhile, consumer price inflation fell to 1.6% in May from the previous month's 2.2%. Lastly, harmonized consumer prices were unchanged from the previous month in May, below the 0.41% rise logged in April. May's result marked the in prices since January.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Irish inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Irish inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Irish inflation projections.
Want to get access to the full dataset of Irish inflation forecasts? Send an email to info@focus-economics.com.
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