Central Bank: Rents and restaurants play outsized role in recent jump in Irish consumer inflation       

Services inflation was the largest contributor to overall inflation in Ireland in October, while energy inflation was the second largest

Irish consumer prices climbed by 5.1% in October while the eurozone as a whole posted a rate of 4.1%.

Recent energy price hikes are driving up consumer price inflation across Europe but in Ireland, rental costs and higher prices at restaurants and for accommodation are playing an outsized role, a Central Bank study confirms. 

In an economic research paper, the Central Bank compares the huge jump in inflation last month and finds that the same "dynamics" of much higher household energy costs are at play in Ireland as they are across the rest of the eurozone.