The EU harmonised index of consumer prices (HICP) was estimated to have increased by 9.5 per cent in the year to October, according to new figures.
The measure of inflation in Ireland was 8.6 per cent in September, the Central Statistics Office (CSO) revealed.
The “flash” HICP for Ireland in October shows energy prices are estimated to have increased by 13.6 per cent in the month and are up by 47.6 per cent since October last year.
Excluding a rise in energy prices, the HICP estimates inflation to have increased by 5.9 per cent since October 2021.
Prices in Ireland estimated to have risen by 9.5% in the year to October 2022https://t.co/M3sjzhrsDd#CSOIreland #Ireland #CPI #ConsumerPrices #Inflation #Deflation #Prices #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/4XKzqxABXd
Advertisement— Central Statistics Office Ireland (@CSOIreland) October 28, 2022
Eurostat will publish the figures for the whole of the Eurozone, including Ireland, on Monday.
Anthony Dawson, statistician in the prices division, said: “The latest flash estimate indicates that prices for consumer goods and services in Ireland are estimated to have increased by 9.5 per cent in the past year.
“Looking at the components of the flash HICP in Ireland for October 2022, energy prices are estimated to be to have increased by 13.6 per cent in the month and up 47.6 per cent since October 2021.”
The Consumer Price Index (CPI) is the official measure of inflation for Ireland and is published monthly by the CSO.
