Inflation in Ireland as measured by the EU Harmonised Index of Consumer Prices (HICP) rose to 0.1% in October after sinking to 0% last month.

In the 12 months to October, HICP inflation for the wider eurozone was measured at 1.7%.

Over the past month, consumer prices in Ireland have risen by 0.3%, according to the latest flash estimate for the HICP from the Central Statistics Office (CSO).

Energy prices are estimated to have increased 0.3% month-on-month while decreasing 13.5% over the past year while food prices have risen 0.4% since September and 1.8% in the last 12 months.

Excluding energy and unprocessed food, annual HICP inflation is closer to 1.7%.

"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 increased by 0.1% in the past year," said Anthony Dawson, statistician in the prices division of the CSO.

"Looking at the components of the flash HICP in Ireland for October 2024, energy prices are estimated to have increased by 0.3% in the month and decreased by 13.5% since October 2023. The HICP excluding energy and unprocessed food prices is estimated to have risen by 1.7% since October 2023.

"Food prices are estimated to have increased by 0.4% in the last month and grown by 1.8% in the last 12 months. Transport costs fell by 0.8% in the month and decreased by 2.4% in the 12 months to October 2024."

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