Irish consumer price inflation picks up in August amid tariff pressure
Consumer prices in Ireland climbed in August amid concerns about US tariffs, according to a flash estimate published by the Central Statistics Office on Monday.
The harmonised consumer price inflation rate picked up to 1.8% in the year to August, up from 1.6% in July. Prices were 0.3% higher than the prior month.
The flash estimate showed that energy prices in Ireland dropped by 0.3% in August and were 0.1% lower than a year ago.
Food prices are estimated to have risen by 0.4% in the last month and by 5.0% in the last year.
‘Today’s flash HICP estimates for August show that inflation is on the march,’ said Ebury Junior Dealer Alex Deaton. ‘It comes amid concerns around the new US tariffs squeezing margins and forcing many Irish businesses to pass higher costs onto consumers, which could also be compounded by the risk of importing inflation through more expensive goods, both of which may risk heating inflationary pressures further.’
‘While inflation is currently running below the eurozone average, the outlook is far from clear. Ongoing global trade tensions, volatile commodity prices, and currency swings is likely to keep Irish businesses on their toes in the months ahead,’ Deaton noted.
Final Irish HICP data and the national consumer price index for August will be published on September 11. Eurostat will release eurozone flash inflation data on Tuesday, with final figures due on September 17.
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