Ireland’s annual inflation rate climbed to 2 per cent in March, up from 1.8 per cent in February, according to new figures from the Central Statistics Office (CSO).
The latest figure marks the first time inflation has hit or exceeded 2 per cent since July 2024, when it reached 2.2 per cent.
The increase was largely driven by rising prices in restaurants and hotels, attributed to higher costs for alcoholic drinks and food consumed on-site.
Housing costs also contributed, with rent and mortgage interest repayments rising, though these were partially offset by a drop in home heating oil prices.
Food and non-alcoholic beverage prices jumped by 4.2 per cent, fueled by increases in items such as milk, cheese, eggs, meat, chocolate, and soft drinks. Health and motor insurance premiums also saw a rise.
In contrast, prices in the clothing and footwear sector fell by 1.9 per cent due to seasonal sales.