FX.co ★ Ireland Harmonised Inflation Edged Down to 3.5%

Ireland’s EU-standard Harmonised Index of Consumer Prices (HICP) rose by 3.5% year-on-year in May 2026, easing slightly from a 3.6% increase in April, according to preliminary estimates. Energy price inflation is estimated to have slowed to 11.9%, down from 15.5% in the previous month. Food inflation also moderated, decelerating to 1.4% from 2.0%. In contrast, services inflation accelerated to 3.7%, up from 3.3%. Excluding energy and unprocessed food, inflation is estimated to have ticked up to 2.7% from 2.6% in April. On a monthly basis, harmonised consumer prices fell by 0.1% in May, reversing the 0.4% increase recorded in the previous month.