Ireland inflation rate low but prices still above EU average

Ireland was the only country in the EU to experience a decrease in inflation between 2008 and 2012, but despite the slowdown consumer prices remain well above the EU average according to the CSO.

In a report entitled Measuring Ireland’s Progress 2012, the CSO found that Ireland was still the fifth most expensive EU state in 2012.

The only countries where the cost of living outstripped Ireland were Denmark, Sweden, Finland and Luxembourg. Prices here are 15% above the EU average but this has been halved since 2008 when Irish prices were the second highest in the EU, at 30% above the EU average.