Inflation rate slows to 2.6% in April from 2.9% in March

Inflation in Ireland rose by 2.6% in the 12 months to April, according to latest figures from the Central Statistics Office, down from the rate of 2.9% the previous month.

However when energy and unprocessed foods are excluded the rate is 3.5%.

The difference reflects the fact that consumers have benefitted from significant drops in domestic energy prices during the period measured.

The CSO said this is the sixth time since September 2021 that the annual growth in the consumer price index was below 5%, while April also marked the sixth consecutive month where the inflation rate was lower than 5%.

Today’s CSO figures show that the areas where inflation was highest in the 12 months to April include Recreation and Culture, with prices in the sector up by 5.2%, while restaurants and hotels prices rose by 4.8% and alcoholic beverages and tobacco prices were up 4.7%.

Inflation in food and non alcoholic beverages rose 2.7%, the CSO added.

The only areas where the CSO said prices declined when compared to April last year were the Clothing and Footwear sector, with prices down 6.7%, while household goods and furnishings prices were down 0.8%.