Annual consumer price inflation is estimated to have risen to 3.4% in August from 3.1% July after a monthly jump in energy prices, a flash estimate from the Central Statistics Office shows today.
Using the EU’s standard for measuring inflation, the CSO said that prices are estimated to have risen by 0.6% between July and August on the renewed energy price pressures, the fastest monthly jump since March.
But excluding energy and unprocessed food, price growth slowed year-on-year to 2.6%.
Today’s CSO figures show that energy prices are estimated to have increased by 4.3% in the month and risen by 11.8% since August last year.
Meanwhile, food prices are estimated to have gone down by 0.2% in the last month and gone up by 0.1% in the last 12 months.
The corresponding rate for the euro zone will be published tomorrow.
The CSO said these flash estimates are subject to revision when the final Harmonised Index of Consumer Prices results are published in September.
The HICP is an index of consumer prices that has been harmonised to allow comparisons across euro zone countries.
