Prices in Ireland estimated to have risen by 8.0% in the 12 months to February 2023

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By Meraj Abid 

The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 8.0% in the year to February 2023 and by 1.4% in the month from January 2023

This compares with HICP inflation of 7.5% in Ireland in the 12 months to January 2023 and an annual increase of 8.6% in the HICP for the Eurozone in the same pFlash Estimate for the Harmonised Index of Consumer Prices February 2023

Prices in Ireland estimated to have risen by 8.0% in the 12 months to February 2023

The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 8.0% in the year to February 2023 and by 1.4% in the month from January 2023

This compares with HICP inflation of 7.5% in Ireland in the 12 months to January 2023 and an annual increase of 8.6% in the HICP for the Eurozone in the same period

Looking at the components of the flash HICP for Ireland in February 2023, energy prices are estimated to have decreased by 0.2% in the month and increased by 29.2% since February 2022

Food prices are estimated to have risen by 1.2% in the last month and increased by 13.4% in the last 12 months

The HICP excluding energy is estimated to have grown by 5.8% since February 2022

Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for February 2023 on 02 March 2023

The Central Statistics Office (CSO) has today (01 March 2023) published the flash estimates of inflation from the EU Harmonised Index of Consumer Prices (HICP) for Ireland for February 2023. Eurostat will publish the figures for the whole of the Eurozone, including Ireland, on 02 March 2023.

Commenting on the data published today, Anthony Dawson, Statistician in the Prices Division, said: “The latest flash estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have increased by 8.0% in the past year. Prices are estimated to have risen by 1.4% since January 2023. Looking at the components of the flash HICP in Ireland for February 2023, energy prices are estimated to have fallen by 0.2% in the month and increased 29.2% since February 2022. The HICP excluding energy prices is estimated to have risen by 5.8% since February 2022.

Food prices are estimated to have grown by 1.2% in the last month and are up by 13.4% in the last 12 months. Transport costs have increased by 3.6% since February 2022.

The corresponding rate for the Eurozone will be published on 02 March 2023. These flash estimates are subject to revision when the final HICP results are published next month

Looking at the components of the flash HICP for Ireland in February 2023, energy prices are estimated to have decreased by 0.2% in the month and increased by 29.2% since February 2022

Food prices are estimated to have risen by 1.2% in the last month and increased by 13.4% in the last 12 months

The HICP excluding energy is estimated to have grown by 5.8% since February 2022

Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for February 2023 on 02 March 2023

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