Annual inflation at highest level since January 2024
Ireland's annual inflation rate rose to 4.1% in September, driven primarily by significant increases in energy costs and mortgage interest rates. While food price inflation remained low, experts warn of potential surges in the coming year.
Why it matters
Rising inflation impacts household purchasing power and cost-of-living standards, influencing central bank policy and consumer economic behavior.
Agriculture & Consumer Affairs Correspondent
A considerable jump in the cost of energy drove consumer prices 4.1% higher in the year to September, according to latest figures from the Central Statistics Office (CSO).
The September annual increase compared with a 3.7% rise in the 12 months to August, and was the highest rate of inflation since January 2024.
The CSO figures show that energy products - which includes electricity, gas and other fuels - were up by 15.3% in the year to September.
These increases follow a jump in the cost of oil as a result of the conflict in the Middle East.
Since March the cost to households for electricity, gas, and home-heating oil has risen significantly.
A jump in mortgage interest rates of over 10% has also also contributed to higher consumer prices. Costs across education (+8.9%) and transport (+7.5%) have also added to higher prices.
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