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Ireland Inflation February 2024

Ireland: Harmonized inflation falls to over two-year low in February

Harmonized inflation came in at 2.3% in February, which was down from January’s 2.7%. February’s reading represented the weakest inflation rate since July 2021. The slowdown was largely due to a smaller rise in prices for food as well as hotels and restaurants.

In addition, the trend pointed down, with annual average harmonized inflation coming in at 4.3% in February (January: 4.8%). Meanwhile, consumer price inflation fell to 3.5% in February, from the previous month’s 4.1%.

Finally, harmonized consumer prices increased 1.11% in February over the previous month, swinging from January’s 1.43% fall. February’s jump marked the highest reading since February 2023.

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