Ireland annual consumer price inflation steady at 2.7% in February
Ireland’s consumer price inflation rate was steady in February, while prices returned to monthly growth after declining at the start of the year.
Ireland’s Central Statistics Office said the rate of yearly consumer price inflaton was 2.7% in February, in line with January, when it had cooled from 2.8% in December.
On a harmonised basis, allowing for EU-wide comparison, the annual rate of inflation was steady at 2.5%.
‘It should be noted that as these results are for February, they do not capture the impact of the recent events in the Middle East,’ CSO analyst Anthony Dawson cautioned.
Since the onset of the conflict, Brent prices surged as high as roughly $120 a barrel on Monday. They took a dip as the week progressed, but topped the $100 threshold again on Thursday.
On a monthly basis, consumer prices rose 0.9% in February, after sinking 0.9% in January from December. Harmonised prices rose 0.8% on-month, after a 1.0% slump in January.
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