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Ireland Inflation June 2023

Ireland: Harmonized inflation falls to over one-year low in June

Harmonized inflation fell to 4.8% in June from May’s 5.4%. June’s figure represented the weakest inflation rate since September 2021. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a more moderate rate in June while prices for transportation dropped at a sharper pace.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 7.7% in June (May: 8.1%). Meanwhile, consumer price inflation fell to 6.1% in June, from May’s 6.6%.

Lastly, harmonized consumer prices rose 0.77% over the previous month in June, accelerating from the 0.26% increase seen in May.

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