Inflation Ireland 2003
Average inflation: 3.5%
Inflation in 2003
Inflation is high at 3.5%, well above the ECB target.
Peak and Trough
The highest inflation was in February at 5.1%. The lowest inflation was in December at 2.0%.
- Highest month
- February: 5.1%
- Lowest month
- December: 2.0%
- Difference
- 3.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 9.9%. The lowest price increase was in Clothing and footwear with an average of -4.0%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 9.9%
- Lowest increase
- Clothing and footwear: -4.0%
Historical Context
Inflation is 1.2 percentage points lower than the 5-year average of 4.7%. This approaches the lowest level since records began (3.5% in 2003).
- 5-year average
- 4.7%
- 10-year average
- 4.7%
- All-time high (2000)
- 5.6%
- All-time low (2003)
- 3.5%
Trend
Over the period 2001-2003, inflation shows a downward trend. Compared to 2002, inflation has fallen by 1.1 percentage points.
- Change vs. previous year
- -1.1 percentage points
- Largest monthly swing
- December: -3.0 percentage points
ECB Target
Inflation is 1.5 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 4.8% | -0.1 |
| February | 5.1% | +0.5 |
| March | 4.9% | +0.2 |
| April | 4.3% | -0.5 |
| May | 3.5% | -1.3 |
| June | 3.5% | -0.8 |
| July | 3.2% | -0.9 |
| August | 3.2% | -1.2 |
| September | 2.8% | -1.8 |
| October | 2.3% | -2.4 |
| November | 2.3% | -2.4 |
| December | 2.0% | -3.0 |
| Average | 3.5% |
Data source
Data from OECD. Last updated: 23/05/2026.