30th May 2025 11:23
(Alliance News) - Consumer prices in Ireland cooled in May, as weaker energy and transport costs helped ease broader inflationary pressures, according to a flash estimate published by the Central Statistics Office on Friday.
The EU Harmonised Index of Consumer Prices is estimated to have risen by 1.4% in the year to May, down from 2.0% in April
Monthly inflation was flat in May, following price growth in previous months. The annual figure marks a slowdown from the eurozone average of 2.2% in April, ahead of updated euro area data due Tuesday next week.
The latest flash estimate shows that energy prices in Ireland dropped by 1.3% in May and were 2.6% lower than a year earlier. Food prices, meanwhile, rose by 1.0% in the month and were 4.1% higher than in May 2024.
Excluding energy and unprocessed food, the HICP increased by 1.8% year-on-year.
Transport costs declined by 3.0% on the month and were down 2.4% compared to May 2024.
Final Irish HICP data and the national consumer price index for May will be published by the CSO on June 12. Eurostat is expected to release eurozone flash inflation data on June 3 and final results on June 18.
Separately on Friday, the CSO published fresh data from its Housing Hub, showing that 5,938 new homes were completed in the first quarter of 2025, a 2% rise from a year earlier.
Property prices rose by 7.5% in the year to March, with Dublin prices up 6% and those outside the capital climbing 8.7%.
Planning permissions, however, slumped 38% year-on-year in the fourth quarter of 2024, and average labour costs in construction rose to EUR32.11 an hour.
By Eva Castanedo, Alliance News reporter
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