Ireland: Inflation eases in May from April
Latest reading: Harmonized consumer prices increased 3.5% on a year-on-year basis in May, following a 3.6% rise in the previous month.
Relative to the previous month’s figures, there were reduced price pressures for food and non-alcoholic beverages (+1.3% on a year-on-year basis vs +2.1% in April), housing and utilities (+7.0% vs +8.6% in April), recreation (+0.6% vs +1.2% in April) and restaurants and hotels (+3.7% vs +3.8% in April). In contrast, price pressures were higher for transportation in May (+6.6% vs +3.9% in April).
Meanwhile, consumer prices rose 3.7% in May, unchanged from the previous month’s reading.
Lastly, harmonized consumer prices declined 0.10% in May on a month-on-month basis, following a 0.39% rise in the previous month.