Inflation Ireland 2008
Average inflation: 4.0%
Current Inflation
Inflation is high at 4.0%, well above the ECB target.
Peak and Trough
The highest inflation was in March at 5.1%. The lowest inflation was in December at 1.1%.
- Highest month
- March: 5.1%
- Lowest month
- December: 1.1%
- Difference
- 4.0 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 9.7%. The lowest price increase was in Clothing and footwear with an average of -4.8%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 9.7%
- Lowest increase
- Clothing and footwear: -4.8%
Historical Context
Current inflation is around the 5-year average of 3.5%.
- 5-year average
- 3.5%
- 10-year average
- 4%
- All-time high (2000)
- 5.6%
- All-time low (2004)
- 2.2%
Trend
Inflation has remained relatively stable. Compared to 2007, the difference is minimal (-0.9 percentage point).
- Change vs. previous year
- -0.9 percentage points
- Largest monthly swing
- December: -3.5 percentage points
ECB Target
Inflation is 2.0% 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 €104.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 4.4% | -0.7 |
| February | 4.7% | -0.1 |
| March | 5.1% | +0.1 |
| April | 4.3% | -0.8 |
| May | 4.6% | -0.4 |
| June | 4.9% | -0.1 |
| July | 4.3% | -0.6 |
| August | 4.4% | -0.3 |
| September | 4.3% | -0.3 |
| October | 3.9% | -0.9 |
| November | 2.6% | -2.4 |
| December | 1.1% | -3.5 |
| Average | 4.0% |
Data source
Data from OECD. Last updated: 11/01/2026.