Financial News: Ireland Inflation Steady At 2.2%

Ireland Inflation Steady At 2.2%

08/08/2024 - 07:08:00 (RTTNews)

(RTTNews) - Ireland's consumer price inflation remained stable in July after easing to a nearly three-year low in the prior month, data from the Central Statistics Office showed on Thursday.

The consumer price index climbed 2.2 percent year-over-year in July, the same as in June, which was the weakest inflation since July 2021.

EU-harmonised inflation also held steady at 1.5 percent in July.

The overall inflation in July was mainly attributed to a 5.5 percent rise in transport charges due to higher prices for diesel, petrol, airfares, motor cars, and the maintenance and repair of personal transport equipment.

The annual price growth in food and non-alcoholic beverages slowed slightly to 2.1 percent from 2.3 percent. Meanwhile, clothing and footwear prices dropped 4.9 percent in July compared to last year.

On a monthly basis, consumer prices rose 0.2 percent in July versus a 0.4 percent gain in June. The HICP also showed an increase of 0.2 percent.

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