Financial News: Irish Inflation Eases To 1.7%, Slowest In 38

Irish Inflation Eases To 1.7%, Slowest In 38 Months

09/12/2024 - 06:26:00 (RTTNews)

(RTTNews) - Ireland's consumer price inflation eased in August to the lowest level in more than three years, data from the Central Statistics Office showed on Thursday.

The consumer price index climbed 1.7 percent year-over-year in August, slower than June's stable increase of 2.2 percent.

Further, this was the weakest inflation rate since June 2021, when prices had risen 1.6 percent.

EU-harmonised inflation also moderated to 1.1 percent in August from 1.5 percent in the prior month, as estimated earlier.

The annual price growth in transportation eased to 4.0 percent from 5.5 percent in July. Similarly, health costs grew at a slower pace of 1.4 percent versus 2.1 percent in the prior month.

The slowdown in inflation was also largely influenced by a 6.2 percent plunge in clothing and footwear prices and a 1.9 percent fall in housing and utilities.

On a monthly basis, consumer prices edged up 0.1 percent in August after rising 0.2 percent in July. The HICP also showed an increase of 0.1 percent.

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