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POLITICS
&
SOCIETYInflationinIrelandCHAPTER
01OverviewIreland:Inflationratefrom1987to2029(comparedtothepreviousyear)InflationrateinIreland202910.0%8.0%6.0%4.0%2.0%0.0%-2.0%-4.0%3Description:In2023,theinflationrateinIrelandamountedtoabout5.21percentcomparedtothepreviousyear.Ireland’sinflationisforecasttostabilizeoverthecomingyearsataroundtwopercent.
ReadmoreNote(s):Ireland;*Estimate.Figureshavebeenrounded.ReadmoreSource(s):IMFInflationratefortheConsumerPriceIndex(CPI)intheRepublicofIrelandfromJanuary2019toJune2024InflationrateinIreland2019-202410%8%6%4%2%0%-2%-4%Jan
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244Description:TheinflationratefortheRepublicofIrelandinJune2024was2.2percent,downfrom2.6percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toJune2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)intheRepublicofIrelandinJune2024,bysectorCPIinflationrateinIrelandbysector2024Inflationrate-6%-8%-4%-2%0%2%4%6%Allitems2.2%Transport4.9%4.4%3.9%3.4%2.9%2.3%2.1%2%RestaurantsandhotelsMiscellaneousgoodsandservicesAlcoholicbeveragesandtobaccoRecreationandcultureFoodandnon-alcoholicbeveragesHealthEducationCommunications0.6%0.3%Housing,water,electricity,gasandotherfuelsFurnishings,householdequipmentandroutinehouseholdmaintenanceClothingandfootwear-1.1%-6.7%5Description:TheinflationrateintheRepublicofIrelandinJune2024was2.2percent,withpricesrisingfastestinthetransportsectorat4.9percent.ReadmoreNote(s):Ireland;June2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)excludingenergyandunprocessedfoodintheRepublicofIrelandfromJanuary2019toJune2024CoreinflationrateinIreland2019-20248.0%7.0%6.0%5.0%4.0%3.0%2.0%1.0%0.0%-1.0%-2.0%Jan
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246Description:InJune2024,thecoreinflationrate,whichexcludesfoodandenergypriceincreases,intheRepublicofIrelandwas3.1percent,comparedto7.1percentayearearlier.
ReadmoreNote(s):Ireland;January2019toJune2024Source(s):CentralStatisticsOfficeIrelandHarmonizedindexofconsumerprices(HICP)energyinflationrateinIrelandfromJanuary2019toMay2024,bycommodityEnergypriceinflationrateinIreland2019-2024,bycommodityEnergyGasLiquidfuelsElectricity140%120%100%80%60%40%20%0%-20%-40%-60%7Description:TheinflationratesofenergycommoditypricesinIrelandincreasedsignificantlyin2022.Liquidfuelssawthesteepestrise,withtheinflationratestandingat126.6percentinMarch2022.Gasalsosawanincreaseduringlate2022,withinflationreachingitspeakinOctober2022at93.4percent.TheseincreasesininflationweredrivenfurtherbyRussia'sinvasionofUkraine,whichhascauseduncertaintyoverEurope'ssecurityofgassupply,aswellasintenseenergypricevolatility.Bythe[...]
ReadmoreNote(s):Ireland;January2019toMay2024Source(s):EurostatAveragegrowthinweeklyearningscomparedwithayearearlierintheRepublicofIrelandfrom1stquarter2010to3rdquarter2023WagegrowthinIreland2010-202310%8%6%4%2%0%-2%-4%Q1
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20238Description:WagesintheRepublicofIrelandgrewbyapproximately4.6percentinthethirdquarterof2023,whencomparedwithayearearlier.Duringtheprovidedtimeperiod,wagesweregrowingfastestinlastquarterof2020,whenwagesweregrowingbyaround7.7percent.ReadmoreNote(s):Ireland;Q12010toQ32023Source(s):CentralStatisticsOfficeIrelandFluctuationoftheEuropeanCentralBankfixedinterestratefrom2008to2024FixedrateinterestratessetbytheECB2008-20245.0%4.5%4.0%3.5%3.0%2.5%2.0%1.5%1.0%0.5%0.0%-0.5%15
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Jun,2008200820082009200920092009201120112011201120122013201320142014201520162019202220222022202220232023202320232023202320249Description:TheEuropeanCentralBank(ECB)cutitsfixedinterestrateinJune2024forthefirsttimesince2016.The0.25basispointcutendedanearlyfive-yearperiodofincreasinginterestrates,markingapositiveshiftinattitudetowardseconomicconditions.InJuly2022,theECBincreaseditsfixedinterestrateto0.5percent,thefirstincreasesinceMarch2016.AfterJuly2022,theECBincreaseditsfixedinterestratealmostmonthly.ByDecember2023,theratehadrisento4.5percent,thehighestsince[...]
ReadmoreNote(s):Europe;2008to2024Source(s):ECBCHAPTER
02InflationbysectorInflationratefortheConsumerPriceIndex(CPI)forfoodandnon-alcoholicbeveragesintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforfoodandnon-alcoholicbeveragesinIreland2019-202414%12%10%8%6%4%2%0%-2%-4%Jan
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2411Description:Theinflationrateforfoodandnon-alcoholicbeveragesintheRepublicofIrelandinMay2024was2.6percent,comparedwith2.7percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)foralcoholicbeveragesandtobaccointheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforalcoholicbeveragesandtobaccoinIreland2019-202412%10%8%6%4%2%0%Jan
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2412Description:TheinflationrateforalcoholicbeveragesandtobaccointheRepublicofIrelandinMay2024was3.5percent,comparedwith4.7percentinthepreviousmonth.ReadmoreNote(s):Ireland;November1976toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forclothingandfootwearintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforclothingandfootwearinIreland1976-20248%6%4%2%0%-2%-4%-6%-8%-10%Jan
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2413Description:TheinflationrateforclothingandfootwearintheRepublicofIrelandinMay2024was-6.3percent,comparedwith-6.7percentinthepreviousmonth.ReadmoreNote(s):Ireland;November1976toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forhousing,water,electricity,gasandotherfuelsintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforhousingfuelsIreland2019-202430%25%20%15%10%5%0%-5%Jan
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2414Description:Theinflationrateforhousing,water,electricity,gasandotherfuelsintheRepublicofIrelandinApril2024was0.5percent,comparedwithonepercentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forfurnishings,householdequipmentandroutinehouseholdmaintenanceintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforfurnitureandfurnishingsinIreland2019-20246.0%5.0%4.0%3.0%2.0%1.0%0.0%-1.0%-2.0%-3.0%-4.0%-5.0%Jan
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2415Description:Theinflationrateforfurnishings,householdequipmentandroutinehouseholdmaintenanceintheRepublicofIrelandinMay2024was-1.4percent,comparedwith-0.8percentinthepreviousmonth.ReadmoreNote(s):Ireland;November1976toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forhealthintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforhealthinIreland2019-20245.0%4.0%3.0%2.0%1.0%0.0%-1.0%Jan
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2416Description:TheinflationrateforhealthintheRepublicofIrelandinMay2024was2.1percent,comparedwith2.4percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)fortransportintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationratefortransportinIreland2019-202425%20%15%10%5%0%-5%-10%Jan
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2417Description:TheinflationratefortransportintheRepublicofIrelandinMay2024was6.7percent,comparedto4.1percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forcommunicationsintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforcommunicationsinIreland2019-20246%4%2%0%-2%-4%-6%-8%-10%-12%Jan
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2418Description:TheinflationrateforcommunicationsintheRepublicofIrelandinMay2024was1.2percent,comparedwith1.1percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toApril2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forrecreationandcultureintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforrecreationandcultureinIreland2019-202416%14%12%10%8%6%4%2%0%-2%Jan
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2419Description:TheinflationrateforrecreationandcultureintheRepublicofIrelandinMay2024was4.4percent,comparedto5.2percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)foreducationintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforeducationinIreland2019-20246%4%2%0%-2%-4%-6%-8%Jan
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2420Description:TheinflationrateforeducationintheRepublicofIrelandinMay2024wastwopercent,comparedwith2.1percentinDecember2023.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)forrestaurantsandhotelsintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateforrestaurantsandhotelsinIreland2019-202410.0%9.0%8.0%7.0%6.0%5.0%4.0%3.0%2.0%1.0%0.0%Jan
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2421Description:TheinflationrateforrestaurantsandhotelsintheRepublicofIrelandinMay2024was4.7percent,downfrom4.8percentinthepreviousmonth.ReadmoreNote(s):Ireland;January2019toMay2024Source(s):CentralStatisticsOfficeIrelandInflationratefortheConsumerPriceIndex(CPI)formiscellaneousgoodsandservicesintheRepublicofIrelandfromJanuary2019toMay2024CPIinflationrateformiscellaneousgoodsandservicesinIreland2019-20245.0%4.0%3.0%2.0%1.0%0.0%-1.0%-2.0%-3.0%Jan
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2422Description:TheinflationrateformiscellaneousgoodsandservicesintheRepublicofIrelandinMay2024was3.4percent,comparedwith3.6percentinthepreviousmonth.ReadmoreNote(s):Ireland;
January2019toMay2024Source(s):CentralStatisticsOfficeIrelandCHAPTER
03InternationalComparisonsHarmonizedindexofconsumerprices(HICP)inflationrateoftheEuropeanUnionfromJanuary1997toMarch2024InflationrateoftheEuropeanUnion1997-202414%12%10%8%6%4%2%0%-2%24Description:TheinflationrateintheEuropeanUnionwas2.6percentinMarch2024,asignficantdeclinefromthehigh-pointreachedinOctober2022of11.5percent,thehighestrateofinflationrecordedintheprovidedtimeperiod.Before2021,theinflationrateintheEUpeakedat4.4percentinJulyof2008andwaslowestinJanuary2015,whenpriceswereshrinkingby0.5percent.HungaryhadthehighestinflationrateamongEUmemberstatesat26.2percent,whileLuxembourghadthelowest[...]
ReadmoreNote(s):EU;January1997toMarch2024Source(s):EurostatHarmonizedindexofconsumerprices(HICP)inflationrateinEuropeinMarch2024,bycountryInflationrateinEuropeinMarch2024,bycountryHICPinflationrate(annualchange)30%
40%0%10%20%50%60%70%80%EuropeanUnionEurozoneEuropeanEconomicAreaTurkey2.6%2.4%2.6%68.6%RomaniaMontenegroSerbia6.7%6%5.2%5.1%4.9%IcelandCroatiaNorthMacedoniaEstonia4.5%4.1%4.1%3.8%AustriaBelgium25Description:AsofDecember2023,theinflationrateintheEuropeanUnionwas3.4percent,withpricesrisingfastestinCzechia,whichhadaninflationrateof7.6percent.Bycontrast,bothDenmarkandBelgiumsawlowinflationratesduringthesameperiod,withBelgiumhavingthelowestinflationrateintheEUduringthismonthat0.5percent.TherateofꢀinflationintheEUintheOctober2022washigherthanatanyothertime,withthepeakpriorto2021recordedinJuly2008whenpriceswere[...]ReadmoreNote(s):Europe,EU;March2024;*DatafortheUnitedKingdomistakenfromtheOfficeofNationalStatisticsfortheUK.ReadmoreSource(s):EurostatHarmonizedindexofconsumerprices(HICP)inflationrateoftheEuropeanUnioninDecember2023,bysectorInflationrateoftheEuropeanUnionin2023,bysectorHICPinflationrate(annualchange)-2%-1%0%1%2%3%4%5%6%7%8%Alcoholicbeverages,tobaccoandnarcotics6.7%Restaurantsandhotels6%5.9%Foodandnon-alcoholicbeveragesEducation4.9%Personalcare4.8%4.7%MiscellaneousgoodsandservicesHealth4.3%Recreationandculture3.7%All-itemsFurnishings,householdequipmentandroutinehouseholdmaintenanceClothingandfootwear3.4%3.2%2.8%Transport2.2%Communications0.8%Housing,water,electricity,gasandotherfuels-1.3%26Description:TheinflationrateforallitemsintheEuropeanUnionwas3.4percentinDecember2023comapredtothesamemonthinthepreviousyear.Thiswasparticularlydrivenbyrisingpricesinthealcoholicbeverages,tobacco,andnarcoticscategorywhichhadanannualinflationrateof6.7percent,aswellasrisingcostsintherestaurantsandhotelscategory,whichhadaninflationrateofsixpercent.ReadmoreNote(s):EU;December2023Source(s):EurostatHarmonizedindexofconsumerprices(HICP)inflationrateoftheEuropeanUnionfromJanuary2002toDecember2023,bycategoryInflationrateoftheEuropeanUnion2002-2023,bycategoryFoodincludingalcoholandtobaccoServices(overallindexexcludinggoods)Non-energyindustrialgoodsEnergy50%40%30%20%10%0%-10%-20%Jan
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2327Description:InDecember2023,energypricesfellbyapproximately5percentintheEuropeanUnion,whencomparedwithayearearlier,accordingtotheharmonizedindexofconsumerpricesindex.ThisrepresentsadramaticdeflationofenergypricesfromtheirpeakinJune2022,whentheHICPindexwas41.1percenthigherthanJune2021.DuringDecember2023,theinflationrateforfoodpriceswas6percent,whileinnon-energyindustrialgoods,costswereestimatedtohavegoneupby3[...]
ReadmoreNote(s):EU;January2002toDecember2023Source(s):EurostatInflationratefortheConsumerPriceIndex(CPI)intheUnitedKingdomfromJanuary1989toJune2024InflationrateintheUK1989-202412%10%8%6%4%2%0%-2%28Description:TheUKinflationratewastwopercentinJune2024,unchangedfromthepreviousmonth,wheninflationfelltoitslowestratesinceJuly2021.BetweenSeptember2022andMarch2023,theUKexperiencedsevenmonthsofdouble-digitinflation,whichpeakedat11.1percentinOctober2022.Asofthemostrecentmonth,alcoholandtobaccowastheꢀsectorwiththehighestinflationrate.Ingeneral,thelasttimeoverallinflationwasrisingatcomparablelevelswasin1992,wheninflation[...]
ReadmoreNote(s):UnitedKingdom;January1989toJune2024Source(s):OfficeforNationalStatistics(UK)Monthly12-monthinflationrateintheUnitedStatesfromMay2020toMay2024U.S.monthlyinflationrate202410.0%9.0%8.0%7.0%6.0%5.0%4.0%3.0%2.0%1.0%0.0%29Description:InMay2024,priceshadincreasedby3.3percentcomparedtoMay2023accordingtothe12-monthpercentagechangeintheconsumerpriceindex—themonthlyinflationrateforgoodsandservicesintheUnitedStates.ThedatarepresentsU.S.cityaverages.Ineconomics,theinflationrateisameasureofthechangeinpricelevelovertime.Therateofdecreaseinthepurchasingpowerofmoneyisapproximatelyequal.ꢀAprojectionoftheannualU.S.inflationratecanbeaccessedhere[...]
ReadmoreNote(s):UnitedStates;May2020toMay2024Source(s):BureauofLaborStatisticsCHAPTER
04SurveysWhatdoyouthinkarethetwomostimportantissuesfacingIrelandatthemoment?MostimportantissuesfacingIrelandin2023Shareofrespondents20%0%10%30%40%50%60%HousingRisingprices/inflation/costoflivingHealth56%55%23%ImmigrationTheenvironmentandclimatechangeEnergysupply14%13%9%TheeconomicsituationTheinternationalsituationCrime8%5%4%3%TheeducationsystemUnemployment3%3%TaxationGovernmentdebt2%1%1%PensionsTerrorism31Description:HousingwasseenasthemostimportantissuefacingtheRepublicofIrelandasof2023,with56percentofrespondentsplacingitasoneofthetoptwoissuesfacingthecountry.Housingwasfollowedbyrisingpricesandinflationasthesecondmostimportantissue,selectedasatopissueby55percentofIrishrespondents.ReadmoreNote(s):Ireland;October23toNovember14,2023;1,016respondents;15yea
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