Inflation falls to three-year low of 1.7% in August
Inflation in the Irish economy dropped to a three-year low of 1.7 per cent in August, figures from the Central Statistics Office (CSO) have shown.
It is the first time since June 2021 that the consumer price index has fallen below 2 per cent.
The most significant rises in the 12 months to August 2024 were seen in restaurants and hotels, which saw an increase of 4.5 per cent, which reflects increases in prices for alcoholic drinks and food consumed in licensed premises.
Clothing and footwear saw the biggest annual drop of 6.2 per cent.
On a monthly basis, the CSO said that consumer prices rose by 0.1 per cent in the month, with the biggest price increases seen in the cost of clothing and footwear, which rose by 2.8 per cent.
