Irish inflation rises to 2.7% in December 

New figures from the CSO show food prices in the last 12 months have risen by 4%

On a monthly basis, price levels rose by 0.6% compared to the previous November. 

Irish inflation rose above the European Central Bank's 2% target again in December, with transport costs adding to rising price levels.

New figures released by the Central Statistics Office (CSO) on Tuesday found that inflation, when calculated using the EU Harmonised Index of Consumer Prices (HICP) was 2.7% in the 12 months to December 2025.

On a monthly basis, price levels rose by 0.6% compared to the previous November. 

Among the components of the flash inflation figures, energy prices are estimated to have fallen by 0.3% in the month, but rose by 2.4% since December 2024. Meanwhile, food prices are estimated to have decreased by 0.1% in the last month, but increased by 4% in the last 12 months.

Core inflation, with strips out volatile items such as energy and food, is estimated to have risen by 2.6%, the CSO added. 

The consumer price index (CPI) is the official measure of inflation in Ireland, while the HICP is an index of consumer prices that has been harmonised to allow for comparisons across euro area countries. While the CPI includes mortgage rates in its basket of goods, the HICP does not.

The corresponding rate for the Eurozone will be published on Wednesday, January 7, 2026.

Across the 21-country eurozone, inflation has largely hovered around the ECB's 2% target, boosted by price hikes in the services sector, and is expected to stay there for the foreseeable future.

After several decreases in 2024 and 2025, most analysts expect the ECB to keep its interest rate unchanged in the coming months.