Ireland harmonised consumer price inflation slows to 3.5% in May

(Alliance News) - Irish consumer price inflation slowed a notch in May, preliminary data published by the Central Statistics Office showed Friday.

The harmonised consumer price index, which allows for EU-wide comparison, rose by 3.5% in May from a year before, annual inflation slowing from 3.6% in April.

On a monthly, harmonised consumer prices fell 0.1% in May, following a 0.5% rise in April.

The annual rate of inflation in Ireland still was sharply higher than 2.5% in February. Following the start of the war between the US and Iran on February 28, Ireland's annual harmonised CPI rate rose to 3.6% in March, where it remained in April.

The CSO highlighted that energy prices are estimated to have risen by 12% on-year in May but to have fallen by 4.3% compared to April.

By Tom Budszus, Alliance News slot editor

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