Prices rise by 3.5% in last 12 months, figures show

Prices in Ireland are estimated to have risen by 3.5% in the last 12 months, according to figures released by the Central Statistics Office (CSO).

​The EU Harmonised Index of Consumer Prices (HICP) recorded a rise in prices across Ireland.

They also found that HICP inflation for the Eurozone had an annual increase of 3.0%, while Ireland had inflation of 3.6% in the 12 months to April 2026.

​When looking at their flash HICP for Ireland in May, energy prices are estimated to have decreased by 4.3%.

​However, energy prices have gone up by 11.9% over the last 12 months to May 2026.

​When it came to food prices, they are estimated to have risen by 0.1% in May and have gone up by 1.4% in the last 12 months.

​Anthony Dawson, Statistician in the Prices Division of the CSO, 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 gone up by 3.5% in the past year.

​“Looking at the components of the flash HICP in Ireland for May 2026, energy prices are estimated to have decreased by 4.3% in the month and gone up by 11.9 since May 2025. The HICP excluding energy and unprocessed food prices is estimated to have gone up by 2.7% since May 2025.

“Food prices are estimated to have increased by 0.1% in the last month and gone up by 1.4% in the last 12 months. Service prices have increased by 0.4% in the month and have gone up by 3.7% in the 12 months to May 2026.

“The corresponding rate for the Eurozone will be published on 02 June 2026. These flash estimates are subject to revision when the final HICP results are published next month.”