Ireland’s Inflation Rate Stays Below 1% with 0.7% Annual CPI Increase, CSO reports
Dublin: Ireland’s inflation rate remains below 1%, with the Consumer Price Index (CPI) rising 0.7% from October 2023 to October 2024, according to the latest CSO data. Excluding energy and unprocessed food, the CPI increased by 2.3% over the same period. Significant yearly increases were seen in Alcoholic Beverages & Tobacco (+4.9%) and Restaurants & Hotels (+3.7%), while the largest declines were in Clothing & Footwear (-7.4%) and Transport (-2.2%).
Paul Walsh, spokesperson for Peopl Insurance, noted that while the overall inflation rate remains low, certain areas like motor insurance (+10.9%), restaurant dining, and staple groceries have seen substantial price hikes, causing consumers to continue feeling a financial strain despite the recent easing in inflation.
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