FX.co ★ Irish Inflation Rate Rises to 2-Year High

Ireland’s annual inflation rate accelerated to 3.6% in March 2026, up from 2.7% in February, marking the highest level in more than two years. This pickup mirrored faster price growth across Europe, as the outbreak of war in the Middle East disrupted energy supply and drove up energy costs.

Energy prices rose 12.3%, affecting nearly 19% of the Irish consumer basket and pushing up housing and utilities costs (7.2%) as well as transportation prices (2.8%). By contrast, inflation for food and non-alcoholic beverages remained relatively contained at 2.3%, close to the target range.

On a monthly basis, the Irish CPI increased by 1.6% in March, largely driven by an 11.1% surge in energy prices from the previous month.