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Inflation slowed in Ireland at the beginning of 2023 for the third consecutive month, official data showed on Thursday.
According to the Central Statistics Office, the consumer price index rose 7.8% annually in January, easing from an 8.2% rise in December, 8.9% in November and 9.2% in October, which was last year’s high.
‘The most significant increases in the year were seen in Housing, Water, Electricity, Gas & Other Fuels which was up 26% and Food & Non-Alcoholic Beverages, which rose by 13%. Increased energy costs are reflected in the yearly growth of Housing, Water, Electricity, Gas & Other Fuels, particularly in electricity, up 63%, gas, up 86%, liquid fuels (home heating oil) up 36%, and solid fuels, up 45%,’ the CSO said.
Consumer prices fell 0.8% in January from December, after a 0.2% fall in December from November.
‘The most significant monthly price changes were decreases in Clothing & Footwear, down 6.4%, and Transport, down 2.9%. Transport decreased primarily due to lower prices for airfares,’ the statistics agency explained.
On a harmonised basis - which allows for EU wide comparison - annual inflation cooled to 7.5% in January from 8.2% in December. Harmonised consumer prices fell 1.0% in January from the month before, compared to a 0.3% monthly fall in December.
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