The latest figures on Ireland's Consumer Price Index (CPI) reveal a deceleration in inflationary pressure for the month of August 2024. According to data updated on 12 September 2024, the CPI has stopped and reached a modest 0.1% growth for August, down from the 0.2% growth observed in July 2024.
This month-over-month comparison highlights a slight easing in the inflation rate, indicating that while prices continue to rise, they are doing so at a slower pace than in the previous month. In July, the CPI growth rate had already shown a reduced momentum, and August’s figures suggest a continuation of this trend.
This data provides a crucial insight into Ireland's economic environment as the country monitors its inflation dynamics closely. Policymakers and market participants will be watching the forthcoming months keenly to gauge whether this deceleration marks the beginning of a more substantial shift or merely a temporary pause in the inflation rate’s climbing trajectory.
