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Ireland Inflation November 2023

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

Harmonized inflation fell to 2.5% in November, following October’s 3.6%. November’s result marked the weakest inflation rate since July 2021. The reading was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures forhousing and utilities. Moreover, prices for recreation grew at a more subdued pace.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 5.6% in November (October: 6.1%). Meanwhile, consumer price inflation fell to 3.9% in November, from the previous month’s 5.1%.

Lastly, harmonized consumer prices dropped 0.92% in November over the previous month, which was below the 0.17% rise logged in October. November’s result marked the sharpest fall in prices since January.

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