Prices in Ireland are estimated to have risen by 7.7% in the 12 months to January 2023, according to CSO data from the EU Harmonised Index of Consumer Prices (HICP).

This compares with HICP inflation of 8.2% in Ireland in the 12 months to December 2022, and an annual increase of 9.2% in the HICP for the Eurozone in the same period.

Energy prices are estimated to have decreased by 0.1% this month, but are up by 33.1% since January 2022.

Increased

Excluding energy, the HICP is estimated to have increased by 5.2% since January 2022.

Eurostat will publish the figures for the whole of the Eurozone, including Ireland, on Wednesday (1 February). 

The Consumer Price Index (CPI) is the official measure of inflation for Ireland and is published monthly by the CSO. The results of the HICP for Ireland for January 2023 will be published as part of the CPI release on 16 February.

Prices statistician Anthony Dawson said that the HICP is an index of consumer prices that has been harmonised to allow comparisons across Eurozone countries.