Pressures on inflation are 'benign'

Analysts have said that inflation pressures in the Irish economy remain relatively benign, despite a rise to 1.7% year-on-year (yoy) in May, from 1.4% last month.

Goodbody Stockbrokers have said Ireland's 2.1% inflation rate remains below the euro-area average of 2.5% for the second successive month, as compared to May 2003 when inflation in Ireland was running at more than double the euro-area average.