Inflation in Ireland: Prices rose by 1.5% over last 12 months

Kenneth Fox

Prices in Ireland are estimated to have increased by 1.5 per cent in the year to January.

That is up from 1 per cent in the 12 months to December.

CSO figures show energy prices went up by 2 per cent in the month, but are down by 7 per cent in the year.

Food prices fell by just under 1 per cent and rose by 1 point 4 per cent in the year.

Estimates are based on a common European measurement of inflation. Eurostat will publish the figures for the whole of the Eurozone, including Ireland, on Feburary 3rd.

Commenting on the data, Anthony Dawson, statistician in the prices division, said: “The latest flash estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have increased by 1.5 per cent in the past year.

"Looking at the components of the flash HICP in Ireland for January 2025, energy prices are estimated to have risen by 1.2 per cent in the month and declined by 2.7 per cent since January 2024. The HICP excluding energy and unprocessed food prices is estimated to have grown by 2 per cent since January 2024."

Transport costs have dropped by 1.9 per cent in the month and increased by 4.4 per cent in the 12 months to January 2025.