Ireland's inflation increases to 4% as rising energy prices hit home

Energy prices have risen by 18.3% over the 12 months to October 2026

Irish inflation has increased to 4%, driven by a continued upward push on energy prices, data published by the Central Statistics Office on Tuesday shows.

Irish inflation has increased to 4%, driven by a continued upward push on energy prices, data published by the Central Statistics Office on Tuesday shows.

The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 4% in the 12 months to October, and went up 0.5% since September 2026. 

Energy prices are estimated to have increased by 4.5% in October and have risen by 18.3% over the 12 months to October 2026.

Food prices are estimated to have increased by 0.1% in the last month and grown by 0.1% in the last year. Service prices have decreased by 0.2% in the month and have gone up by 3.5% in the 12 months to October 2026. "Excluding energy and unprocessed food, the HICP is estimated to have increased by 2.5% since October 2025," said CSO statistician Anthony Dawson. 

Estimates of inflation from the eurozone for October 2026 will be published on Wednesday. 

While the increase in food prices is far less pronounced than energy, Deloitte Ireland chief economist Kate English warned it could follow. “The lag between fuel price increases and a more expensive food shop has not yet emerged in the latest inflation figures, with food prices increasing by 0.1% in the last year. However, the ESRI have previously estimated that energy price increases impact the cost of food eight to 10 months later and with energy prices up in Ireland 4.5% in a month and 18.3% year on year, we could still see a sharper rise in food prices," said Ms English.

“What is certain is that people are facing into a winter with much higher energy costs. While Ireland’s economy continues to demonstrate resilience, this will be of little comfort to people heating their home."

With rising tensions in the Middle East amid fears the US could renew its attacks on Iran, energy costs are likely to spike even further.  

"This is the second time Ireland (and Europe) has been negatively impacted by energy prices stemming from a conflict in recent history, the first being the illegal invasion of Ukraine," said Ms English. "The long-term solution to this is to ensure Ireland, and Europe, builds a more sustainable energy system based on renewables. This is a lesson we can’t afford to not learn from.”