Ireland Inflation (Core, ann. var. %, aop)

Harmonized inflation declines to lowest level since April 2022 in January

Harmonized inflation dropped to 7.5% in January below December’s 8.2%. January’s figure represented the weakest inflation rate since April 2022. The lower print was driven by weaker price pressures for recreation and utilities.

Annual average harmonized inflation rose to 8.3% in January (December: 8.1%). Meanwhile, consumer price inflation fell to 7.8% in January, from the previous month’s 8.2%.

Lastly, harmonized consumer prices dropped 0.95% in January over the previous month, a sharper drop than December’s 0.26% drop.