Inflation Ireland 2021
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in December at 5.6%. The lowest inflation was in February at -0.5%.
- Highest month
- December: 5.6%
- Lowest month
- February: -0.5%
- Difference
- 6.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 6.5%. The lowest price increase was in Clothing and footwear with an average of -3.1%.
- Highest increase
- Transport: 6.5%
- Lowest increase
- Clothing and footwear: -3.1%
Historical Context
Current inflation is 1.5% higher than the 5-year average of 0.8%. This approaches the highest level since records began (2.3% in 2021).
- 5-year average
- 0.8%
- 10-year average
- 0.6%
- All-time high (2021)
- 2.3%
- All-time low (2020)
- -0.3%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +2.6 percentage point.
- Change vs. previous year
- +2.6 percentage points
- Largest monthly swing
- December: +6.5 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
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 €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | -0.2% | -1.5 |
| February | -0.5% | -1.6 |
| March | 0.0% | -0.7 |
| April | 0.9% | +0.9 |
| May | 1.8% | +2.3 |
| June | 1.5% | +1.9 |
| July | 2.1% | +2.6 |
| August | 3.0% | +4.1 |
| September | 3.7% | +4.9 |
| October | 4.9% | +6.3 |
| November | 5.3% | +6.4 |
| December | 5.6% | +6.5 |
| Average | 2.3% |
Data source
Data from OECD. Last updated: 13/01/2026.