Ireland's Harmonized Index of Consumer Prices (HICP) saw a notable decrease in May 2025, dropping to 1.4%, according to data updated on 30 May 2025. This marks a decline from the 2.0% recorded in April 2025. The current figure highlights a cooling in inflationary pressures, providing a stark contrast to earlier forecasts for the period.
This year-over-year comparison indicates that the index's performance in May 2025 was significantly more tempered than in the same month of the previous year. April's figure had similarly been evaluated against the same month from the prior year, illustrating a continued trend towards reduced inflation within Ireland.
The decline in the HICP could be attributed to several factors, including a potential easing in energy prices or a stabilization in supply chain disruptions that have previously exacerbated inflation. Whatever the reasons, this cooling of the inflation rate might offer some relief to consumers and policymakers alike as it suggests a potential stabilization in the Irish economy's pricing pressures moving forward.