Ireland's annual inflation accelerated to 4.7% in May from 4.3% in April due to rise in prices in the utility sector, the Central Statistical Office said Thursday. On a monthly basis, the consumer price index rose 0.8%, faster than 0.1% increase in the previous month.
According to the statistical office, prices of housing, water, electricity, gas and other fuels jumped 10.6% over the previous year and that of food and non-alcoholic beverages were up 7.8%. Education was 6.4% expensive and health prices recorded an increase of 6.1%. On the other hand, prices of clothing and footwear decreased 3.7% and furnishings, household equipment and routine household maintenance expenses fell .2%.
The Harmonized Index of Consumer Prices, or HICP, climbed 3.7% year-on-year, compared to 3.3% in April. Month-on-month, the HICP increased 0.6%, quicker than 0.1% in the month before.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.