Inflation in Ireland
Harmonized consumer price inflation averaged 1.2% in the ten years to 2022. The 2022 average figure was 8.1%. For more inflation information, visit our dedicated page.
Ireland Inflation Chart
Ireland Inflation Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Inflation (HICP, ann. var. %, aop) | 0.7 | 0.9 | -0.5 | 2.4 | 8.1 |
Inflation (HICP, ann. var. %, eop) | 0.8 | 1.1 | -1.0 | 5.7 | 8.2 |
Inflation (Core, ann. var. %, aop) | 0.5 | 0.9 | -0.4 | 2.3 | 7.8 |
Inflation (WPI, ann. var. %, aop) | -2.4 | -1.0 | -8.7 | -5.2 | 5.1 |
Harmonized inflation rises in December
Harmonized inflation came in at 3.2% in December, up from November’s 2.5%. Looking at the details of the release, housing and utilities prices fell at a more moderate pace in December compared to the previous month, while price pressures for transportation picked up pace. Annual average harmonized inflation fell to 5.2% in December (November: 5.6%). Meanwhile, consumer price inflation rose to 4.6% in December, from the previous month's 3.9%. Finally, harmonized consumer prices rose 0.42% from the previous month in December, contrasting the 0.92% drop recorded in November. December's jump marked the highest reading since August.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Irish inflation projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Irish inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Irish inflation projections.
Want to get access to the full dataset of Irish inflation forecasts? Send an email to info@focus-economics.com.
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