Inflation Ireland 2024
Average inflation: 2.1%
Current Inflation
Inflation is normal at 2.1%, around the ECB target.
Peak and Trough
The highest inflation was in January at 4.1%. The lowest inflation was in September at 0.7%.
- Highest month
- January: 4.1%
- Lowest month
- September: 0.7%
- Difference
- 3.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Restaurants and hotels with an average of 4.7%. The lowest price increase was in Clothing and footwear with an average of -6.1%.
- Highest increase
- Restaurants and hotels: 4.7%
- Lowest increase
- Clothing and footwear: -6.1%
Historical Context
Current inflation is 1.5% lower than the 5-year average of 3.6%.
- 5-year average
- 3.6%
- 10-year average
- 2%
- All-time high (2022)
- 7.8%
- All-time low (2009)
- -4.4%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +4.2 percentage point.
- Change vs. previous year
- -4.2 percentage points
- Largest monthly swing
- September: -5.7 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 €102.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 4.1% | -3.6 |
| February | 3.4% | -5.2 |
| March | 2.9% | -4.7 |
| April | 2.6% | -4.6 |
| May | 2.6% | -4.0 |
| June | 2.2% | -3.9 |
| July | 2.2% | -3.7 |
| August | 1.7% | -4.7 |
| September | 0.7% | -5.7 |
| October | 0.7% | -4.3 |
| November | 1.0% | -2.9 |
| December | 1.4% | -3.2 |
| Average | 2.1% |
Data source
Data from OECD. Last updated: 11/01/2026.