In a significant turnaround, Ireland's Consumer Price Index (CPI) has made a shift from negative to positive territory this October. The latest figures reveal a rise of 0.3% in October 2024, compared to a notable decline of -0.9% in the previous month of September. This information was updated on November 7, 2024.
The October increase comes after a month of contraction, signaling a recovery in consumer prices. The month-over-month comparison illustrates that the previous downturn in September, which saw prices decline by almost 1%, has been effectively countered in October with a modest but crucial increase of 0.3%.
Economists and policymakers will be closely analyzing these shifts, as the move back into positive territory could indicate underlying changes in consumer demand and possible adjustments in economic strategies. This adjustment may reflect improvements in sectors that had previously dragged on the CPI, and it could influence future monetary and fiscal policies in Ireland.
