Irish inflation outpaces Eurozone average of 2.2%

At 3.2%, Ireland had the eighth-highest rate of inflation across the 20-nation Eurozone in November

Tue, 02 Dec, 2025 - 10:59

Emer Walsh

Irish inflation was significantly higher than the euro area average last month, with food and energy costs fueling price increases domestically.

New figures released on Tuesday by Eurostat showed that Ireland had the eighth-highest rate of inflation across the 20-nation Eurozone, rising to 3.2% in November. The euro area average in the same period was 2.2%.

Up from 2.8% in the previous month, the rise in Irish inflation was underpinned by a more than 3% rise in energy costs in the last 12 months, as well as a more than 4% hike in food costs in the same period.

Looking at the main components of eurozone inflation, services is expected to have the highest annual rate in November at 3.5%, followed by food, alcohol and tobacco, which remained unchanged from the previous month at 2.5%.

Core inflation, which strips out volatile items like energy and unprocessed food, remained unchanged across the 20-nation bloc at 2.4% in November.

Eurostat's figures follow data released by the Central Statistics Office (CSO) on Monday, showing energy prices are estimated to have grown by 0.7% in the month and rose by 3.3% over the 12 months to November.

While food prices are estimated to be unchanged in the month, the CSO said they increased by 4.2% in the last 12 months.

Transport costs have grown by 0.1% in the month and rose by 3% in the 12 months to November 2025.

European Central Bank (ECB) President Christine Lagarde last week underscored the bank's comfort with its current monetary-policy settings, saying: “We’re in a good position given the inflation cycle, which we’ve managed to get under control” and that rates are “set correctly.”

Investors and economists believe the ECB will keep its deposit rate at 2% again this month, having slashed it from a peak of 4% in a streak of eight quarter-point cuts.