Inflation for Ireland is estimated to have risen by 0.5% in the 12 months to November 2024 and decreased by 0.5% since October 2024.

This compares with Harmonised Index of Consumer Prices (HICP) inflation of 0.1% in Ireland in the 12 months to October 2024 and an annual increase of 2.0% in the HICP for the Eurozone in the same period.

Energy prices appear to have a big impact on the latest figures, with estimates showing prices to have grown by 0.2% in the month and fallen by 7.7% over the 12 months to November 2024.

Food prices are estimated to have risen by 0.3% in the last month and climbed by 1.7% in the last 12 months.

The HICP excluding energy and unprocessed food is estimated to have increased by 1.5% since November 2023.

Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for November 2024 on 29 November 2024.

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 increased by 0.5% in the past year.

“Looking at the components of the flash HICP in Ireland for November 2024, energy prices are estimated to have risen by 0.2% in the month and decreased by 7.7% since November 2023.

“The HICP excluding energy and unprocessed food prices is estimated to have grown by 1.5% since November 2023.”