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The EU harmonised index of consumer prices (HICP) was estimated to have increased by 9.5% in the year to October, according to new figures.
The measure of inflation in Ireland was 8.6% in September, the Central Statistics Office (CSO) revealed.
The “flash” HICP for Ireland in October shows energy prices are estimated to have increased by 13.6% in the month and are up by 47.6% since October last year.
Excluding a rise in energy prices, the HICP estimates inflation to have increased by 5.9% since October 2021.
Prices in Ireland estimated to have risen by 9.5% in the year to October 2022https://t.co/M3sjzhrsDd#CSOIreland #Ireland #CPI #ConsumerPrices #Inflation #Deflation #Prices #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/4XKzqxABXd
— Central Statistics Office Ireland (@CSOIreland) October 28, 2022
Eurostat will publish the figures for the whole of the Eurozone, including Ireland, on Monday.
Anthony Dawson, statistician in the prices division, said: “The latest flash estimate indicates that prices for consumer goods and services in Ireland are estimated to have increased by 9.5% in the past year.
“Looking at the components of the flash HICP in Ireland for October 2022, energy prices are estimated to be to have increased by 13.6% in the month and up 47.6% since October 2021.”
The Consumer Price Index (CPI) is the official measure of inflation for Ireland and is published monthly by the CSO.
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