FX.co ★ Irish HICP Turns Negative in May, Marking First Monthly Decline of 2026

Ireland’s Harmonised Index of Consumer Prices (HICP) slipped into negative territory in May 2026, underscoring a sharp cooling in short‑term price pressures. Month over month, the HICP fell by 0.1%, reversing from a 0.5% increase recorded in April 2026, according to data updated on 29 May 2026.

The May reading represents the first monthly decline in 2026 for Ireland’s HICP and contrasts with the previous month’s relatively firm rise. On a month-over-month basis, the “actual” figure compares May’s change with April, while the “previous” figure reflects April’s change versus March, highlighting a notable swing from inflation to mild disinflation within just one month. Investors and policymakers will now watch subsequent releases closely to determine whether this negative print is a temporary correction or an early signal of a broader easing in consumer price pressures.