Irish inflation eases to 8.6% but eurozone pressures point to no let-up in ECB rate hikes

Hefty pace of increases in energy and food products continues

The ECB is set to hike rates again.

Irish inflation eased to 8.6% in September, the latest Eurostat figures show, but the hefty pace of increases in energy and food products still suggest that there will be no major easing in price pressures or any reprieve from rate hikes any time soon. 

The inflation rate here is down from 9% in August and is significantly below this year's peak of 9.6% that was reached over the summer months but remains above May's level of 8.3%.