Annual rate of inflation falls to 6.3% in April

The Central Statistics Office (CSO)’s most recent estimates indicate that Ireland’s annual rate of inflation dropped to 6.3% in April.

According to the EU Harmonised Index of Consumer Prices (HICP), which allows for comparisons with nations in the Eurozone, the figure is down from 7% in the 12 months leading up to March.

The HICP for Ireland also risen by 0.3% from March 2023, according to the CSO’s flash estimate.

This compares with HICP inflation of 7 per cent in the State for the 12 months to March 2023 and an annual increase of 6.9 per cent in the HICP for the Eurozone in the same period.

Energy prices are estimated to have fallen by 1.3 per cent in the month and risen by 12.1 per cent over the 12 months to April 2023.

Food prices are estimated to have increased by 0.5 per cent in the last month and are up by 12.8 per cent in the last year.

Since April 2022, the HICP without energy and unprocessed food is estimated to have increased by 11.9%.

Transport expenses decreased by 0.9% in April and will drop by 2% in the following year.

On Tuesday, Eurostat will release the EU HICP’s flash estimates of inflation for the eurozone in April 2023.

The State’s own unique consumer price index, which the CSO updated earlier this month, showed an annual increase of 7.7% in March, down from 8.5 in February.

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