FX.co ★ Ireland Harmonised Inflation at 5-Month Low

According to preliminary estimates, Ireland’s EU-standard Harmonised Index of Consumer Prices (HICP) rose 3.1% year-on-year in July 2026, easing slightly from 3.2% in June and marking the lowest rate since February. The moderation was largely driven by a sharp slowdown in energy inflation, which fell to 6.5% from 10.0% in the previous month. In contrast, underlying price pressures strengthened: HICP excluding energy and unprocessed food accelerated to 2.9% from 2.5%, food price inflation inched up to 0.8% from 0.5%, and services inflation rose to 3.7% from 3.6%. On a monthly basis, harmonised consumer prices were flat in July, after a 0.1% increase in June.