Ireland Inflation August 2022

Ireland

Ireland: Harmonized inflation drops in August

September 8, 2022

Harmonized inflation came in at 9.0% in August, down from July’s 9.6%. August's result marked the lowest inflation rate since May. The reading was driven by moderating price pressures for transportation and housing and utilities.

The trend pointed up, with annual average harmonized inflation coming in at 6.8% in August (July: 6.3%). Meanwhile, consumer price inflation fell to 8.7% in August, from the previous month's 9.1%.

Lastly, harmonized consumer prices rose 0.18% from the previous month in August, moderating from July's 0.35% increase. August's result marked the weakest reading since January.

FocusEconomics analysts expect harmonized inflation to average 7.6% in 2022, which is up 0.4 percentage points from last month’s forecast, and 4.0% in 2023.


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