The latest “flash” estimate of inflation from the Central Statistics Office shows that the annual rate came in at 1.5% in the year to July, unchanged from a more than three-year low in June.
The rate of 1.5% compares with an annual increase of 2.5% in the Harmonised Index of Consumer Prices (HICP) for the euro zone in the same period.
Today’s figures show that energy prices are estimated to have remained the same in July from June, while they decreased by 5.8% since July last year.
The HICP – excluding energy and unprocessed food prices – is estimated to have increased by 2.3% since July of last year.
The CSO also said that food prices are estimated to be unchanged in the last month and are up by 1.9% in the last 12 months.
But transport costs have gone up by 2% in the month and risen by 5.9% in the 12 months to July 2024, it added.
Today’s “flash” inflation figures are from the Harmonised Index of Consumer Prices (HICP), a measure used to compare prices across the EU.
It differs from the Consumer Price Index (CPI) which remains the official measure of inflation in Ireland.
The CPI includes mortgage interest repayments which do not form part of the HICP.
Eurostat are due to publish HICP figures for the whole of the euro zone, including Ireland, tomorrow.
Article Source: Annual rate of inflation steady at 1.5% in July – CSO flash reading