Inflation edging upwards as fuel costs drop slightly
The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have risen by 1.9% in the 12 months to May 2024 and increased by 0.5% since April 2024.
This compares with HICP inflation of 1.6% in Ireland in the 12 months to April 2024 and an annual increase of 2.4% in the HICP for the euro zone in the same period, CSO data shows.
Energy prices are estimated to have fallen by 0.3% in the month and decreased by 3.6% over the 12 months to May 2024.
Food prices remained unchanged in the month and rose by 2.3% in the last 12 months to May 2024.
The HICP excluding energy and unprocessed food is estimated to have increased by 2.5% since May 2023.
Transport costs have gone up by 1.5% in the month and risen by 7.1% in the 12 months to May 2024.