Ireland: Harmonized inflation falls in January
Harmonized inflation came in at 2.7% in January, down from December’s 3.2%. The reading was primarily due to a more moderate increase in prices for food and non-alcoholic beverages. In addition, price pressures for transportation moderated. Moreover, prices for recreation grew at a more subdued pace.
Annual average harmonized inflation fell to 4.8% in January (December: 5.2%). Meanwhile, consumer price inflation fell to 4.1% in January, from December’s 4.6%.
Finally, harmonized consumer prices dropped 1.43% from the previous month in January, swinging from the 0.42% rise recorded in December.