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
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Ireland from 2013 to 2022.
Source: Irish Central Statistics Office.
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 drops to lowest level since August 2021 in October
Harmonized inflation came in at 3.6% in October, which was down from September’s 5.0%. October's result represented the lowest inflation rate since August 2021. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a slower rate in October, although prices for transportation roseat a stronger rate. Meanwhile, housing and utilities prices increased at a softer pace. In addition, the trend pointed down, with annual average harmonized inflation coming in at 6.1% in October (September: 6.6%). Meanwhile, consumer price inflation fell to 5.1% in October, from the previous month's 6.4%. Lastly, harmonized consumer prices rose 0.17% in October over the previous month, following September's 0.08% increase.
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 13 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.