Euro zone-adjusted inflation steady at 1.5% in Ireland

By Cillian Sherlock, PA

The annual rate of inflation has remained at 1.5 per cent for another month, according to the latest Eurostat estimates.

The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 1.5 per cent in the 12 months to July – and risen by 0.2 per cent month-on-month.

This is the same annual rate for HICP inflation in Ireland that was recorded for the year leading to June and compares with an annual increase of 2.5 per cent in the HICP for the whole euro zone in the same period.

Energy prices are estimated to have stayed the same in the last month and decreased by 5.8 per cent over the 12 months to July.

Food prices are estimated to be unchanged in the last month but are up by 1.9 per cent in the last 12 months.

The HICP excluding energy and unprocessed food is estimated to have gone up by 2.3 per cent since July 2023.

It is an index of consumer prices that has been harmonised to allow comparisons across euro zone countries.

It differs from the Consumer Price Index (CPI), which is the official measure of inflation for Ireland.

The latest CPI figures, released earlier this month, show that the index rose by 2.2 per cent in the 12 months to June, down from an annual increase of 2.6 per cent in the year to May.