Ireland’s EU-harmonized index of consumer prices (HICP) rose by 3.6% year-on-year in March 2026, up from 2.5% in February, according to preliminary estimates. This is the highest rate since October 2023. The acceleration was driven largely by a 12.3% surge in energy prices, compared with a marginal 0.1% increase in the previous month, amid ongoing geopolitical tensions in the Middle East.
The Central Statistical Office noted that the price data were collected before the government implemented measures to curb energy costs, including a reduction in fuel excise duty. Food prices are estimated to have increased by 2.3%, while prices for services rose by 3.3%. Excluding energy and unprocessed food, harmonized inflation is projected to have edged up to 2.6% in March from 2.4% in February.
