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Economy to grow at 3% in 2026 despite risks

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Ireland and Europe: KPMG 2026 Economic Outlook

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Wage Growth in Ireland 2026: How Employers Can Stay Competitive - Parakar

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Ireland’s economy continues to perform strongly, even as global uncertainty persists. According to the latest Irish Labour Market Monitor, the country’s GDP

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Wages in Ireland increased 3.10 percent in December of 2025 over the same month in the previous year. This page provides - Ireland Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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Ireland Inflation Rate - August 2022 Data - 1976-2021 Historical - September Forecast

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The annual inflation rate in Ireland fell to 8.7 percent in August of 2022, easing from the 38-year high of 9.1 percent hit in the two prior months. While remaining high, the figure pointed to the first decrease in inflation since January, as prices growth slowed for transportation (14.8 percent vs…

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I bought the same Supervalu grocery items from 2022 today and was left stunned

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Food prices have hit record levels of inflation amid Ireland’s ongoing cost of living crisis. In 2022, our grocery list came in at just over €30 but how much will the same items cost four years later?

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Inflation: falls below 3%, with a little further to go

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Ireland’s inflation rate dropped to 2.8% in December from 3.2% in November thanks to more favourable base effects. Looking ahead, we expect inflation in Ireland to continue to ease a little further across 2026 but stay above 2.5% in the near-term because of persistent strong domestic demand and infrastructure shortages.

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Slight ease in inflation growth rate, says CSO

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New figures from the Central Statistics Office show that the inflation growth rate eased slightly last month.

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David NcNamara: Ireland exposed to oil shock but has buffers to soften the blow

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David NcNamara: Ireland exposed to oil shock but has buffers to soften the blow

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David NcNamara: Ireland exposed to oil shock but has buffers to soften the blow

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Continued surge in corporation taxes means the Government has a war chest if energy shock endures

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Consumer Price Index January 2026 - Central Statistics Office

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The Consumer Price Index (CPI) rose by 2.7% between January 2025 and January 2026, down from an annual increase of 2.8% in the 12 months to December 2025.

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Grocery inflation put at 6.8 per cent to end of February

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Data indicates price rising before recent surge in fuel costs

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Earnings and Labour Costs - CSO - Central Statistics Office

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Central Statistics Office Skehard Road, Cork T12 X00E, Ireland

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Unemployment refers to the share of the labor force that is without work but available for and seeking employment.

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Employment Labour Force Survey Quarter 1 2024 - Central Statistics Office

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Ireland - Employment rate - 2025 Data 2026 Forecast 2009-2020 Historical

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Ireland - Employment rate was 72.10% in December of 2020, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Ireland - Employment rate - last updated from the EUROSTAT on January of 2025. Historically, Ireland - Employment rate reached a record high of 75.00% in December of 2019 and a record low of 64.50% in December of 2012.

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Employment in Irish economy hits new 2.6m high despite global headwinds

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CSO’s latest Labour Force Survey highlights ongoing strength in the labour market

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Verifying you are human. This may take a few seconds.

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Irish employment rate hits fresh record high in third quarter

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Number of people employed has climbed to 2.79m amid greater female participation in the workforce

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chloe

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Prices rose by 1.4 per cent during 2024, according to figures from the Central Statistics Office (CSO).

The figures show that inflation, the rate at which prices are rising, ticked up slightly since November last year when the annual rate was at 1 per cent.

The rise in the price of food and drink saw restaurant and hotel prices go up by 3.7 per cent over the year.

Excluding energy and unprocessed food, the consumer price index grew by 2.1 per cent in the 12 months to December 2024.

The second highest increase was in recreation and culture which rose by 3.3 per cent.

The only divisions to record a decline when compared with December 2023 were clothing & footwear (-8 per cent) and furnishings, household equipment & routine household maintenance (-1.3 per cent).

The divisions with the largest growth in the month were transport (+4.1 per cent) and recreation & culture (+3.0 per cent).

The only divisions to record a decline in the month were alcoholic beverages & tobacco (-0.9 per cent) and communications (-0.2 per cent).

Consumer prices rose by 1.4% over the 12 months to December 2024 https://t.co/peNf49NXh5#CSOIreland #Ireland #CPI #ConsumerPrices #Inflation #Deflation #Prices #BusinessStatistics #Business #BusinessNews #IrishBusiness pic.twitter.com/8v0kFZXfML

- Central Statistics Office Ireland (@CSOIreland) January 16, 2025

Commenting on annual changes shown in the release, Anthony Dawson, CSO statistician in the prices division, said: "The release of the CPI shows that prices for consumer goods and services in December 2024 rose by 1.4 per cent on average when compared with December 2023."

The National Average Prices for selected goods and services for December 2024 were also published.

Anthony Dawson said: "There were price increases in December 2024 for a pound of butter (+60c), two litres of full fat milk (+18c), a 2.5kg bag of potatoes (+16c), Irish cheddar per kg (+14c), and spaghetti per 500g (+3c).

"There were decreases in the price of an 800g loaf of white sliced pan (-1c), and an 800g loaf of brown sliced pan (-1c) when compared with December 2023."

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Prices rose by 1.4% in Ireland during 2024 | BreakingNews.ie

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The rise in the price of food and drink saw restaurant and hotel prices go up by 3.7 per cent over the year.

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fran

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Ireland Inflation Rate - August 2022 Data - 1976-2021 Historical - September Forecast

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The annual inflation rate in Ireland fell to 8.7 percent in August of 2022, easing from the 38-year high of 9.1 percent hit in the two prior months. While remaining high, the figure pointed to the first decrease in inflation since January, as prices growth slowed for transportation (14.8 percent vs…

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Consumer Price Index

The Consumer Price Index (CPI), Ireland's official measure of inflation, dropped steadily over the course of 2024 from a high of 4.1% in January 2024 to 0.7% in both September and October 2024. It rose slightly to 1.0% in November 2024, which was the latest month for which data is available at the time of publication. These rates were down on the high inflation levels seen in 2022 when inflation peaked at 9.2% in October 2022.

Energy prices continued to fall while rent and mortgage interest rose by 4.5% and 3.8% respectively in the period from January 2024 to November 2024. Other key contributors to inflation in 2024 were the cost of eating out, up 5.0% in the last 12 months and the price of food and non-alcoholic beverages, up almost 2.0% in the 12 months to November 2024.

Looking at the National Average Prices of some staple items, as of November 2024, the price of a 2.5kg bag of potatoes was up by 18c, while dairy prices also increased with the price of two litres of full fat milk (+13c), a kilogram of cheese (+23c), and a pound of butter (+58c), all up on November 2023 prices.

Wholesale Price Index

Looking at the electricity market as measured by the Wholesale Price Index (WPI), the latest available data, up to November 2024, shows that wholesale electricity prices tended to be lower in 2024 when compared with the same 11-month period in 2023. The biggest changes were in the first four months of the year, where February 2024 showed the greatest year-on-year fall in prices of 46.9%.

However, in the months of May, July, September, and November 2024, wholesale electricity prices were higher than in the same months in 2023, with November 2024 showing the largest annual increase of 18.9% compared with November 2023.

The data also shows that the wholesale price index of electricity in August 2024 was down 74.1% when compared with the peak of such prices which were recorded in August 2022.
Note: The WPI, which measures the average price level of goods sold on the wholesale market, was rebased in October 2024 to 2021=100 with a change in methodology, so not all series are directly comparable pre- and post-rebase. The monthly WPI release also includes producer price indices for many products including food products and construction materials.
Metered Electricity and Gas Bills

As a response to increases in energy prices, subsidies for domestic electricity customers were introduced in 2022, which continued in 2023 and 2024. Eligible households received total rebates of €400 in 2022, €550 in 2023, and €300 in the first half of 2024 (all including VAT). An additional reduction in VAT on both gas and electricity bills from 13.5% to 9% was made on 01 May 2022, which is currently scheduled to continue until 30 April 2025.

With €550 credits applied, the median annual residential electricity bill in 2023 was €880 (including VAT). This was €29 less than the median bill of €909 in 2022 which included €400 credits, and down 31% from the median bill of €1,268 in 2021 (See Figure 1.3 of Trends in Metered Electricity and Gas Bills 2023). Looking at usage, the median residential metered electricity consumption was 3,174 kWh in 2023, a 4% decrease from the 3,310 kWh median residential consumption in 2022 (See Table 5A of Metered Electricity Consumption 2023).

In contrast, the median residential bill for gas rose by €277 (28%) to €1,249 in 2023, compared with bills of €972 in 2022 and €740 in 2021 (See Figure 1.3). The median household gas consumption in 2023 was 7,544 kWh, a decline of 11% from the 2022 median of 8,449 kWh (See Table 5A of Networked Gas Consumption 2023).

Household Budget Survey

Households in Ireland spent an average of €1,007.47 per week, the most recent estimated average weekly expenditure figures for 2022-2023 revealed.

This was 20.3% or €170 higher than the estimated figure of €837.47 in the last Household Budget Release for 2015-2016.

The highest percentage increase (63.7%) was recorded for Fuel & Light where average weekly expenditure rose by €24.55 from €38.56 in 2015-2016 to €63.11 in 2022-2023. This was primarily driven by increased expenditure on Electricity which rose from €18.17 to €33.72 per week over the seven-year period. Expenditure on Food also rose by 30.5% between 2015-2016 and 2022-2023.

It is also interesting to note that in 2022-2023, spending on Housing and Fuel & Light accounted for almost one-quarter (24.6%) of total household expenditure.

Looking at the housing costs, we can see that households that owned the property with a mortgage spent an average of €215.16 per week on mortgage payments while households that rented spent an average of €164.10 per week on rent. However, as a proportion of overall expenditure, rented households spent the highest proportion on Housing at 24.2%, compared with 22.2% for households owned with a mortgage and 10.0% for households that were owned outright.

Our analysis also reveals significant differences in spending patterns between lower and higher income households. While combined expenditure on Food, Fuel & Light and Housing accounted for more than half (51.4%) of total expenditure for households in the lowest income quintile, i.e. the 20% of households with the lowest disposable household income, this fell to around a third (35.5%) for households in the highest income quintile, i.e. the 20% of households with the highest disposable household income. Conversely, expenditure on Miscellaneous Goods, Services & Other Expenditure accounted for almost 40% of total expenditure in the highest income households, while the corresponding figure was around 24% for those in the lowest income households.

Household Saving

Households added around €1 to their wealth for every €6 in day-to-day consumption in 2024. Taken collectively, total income in the 12 months to September 2024 was €174bn, and of that, we spent €150bn and saved €24bn. Savings, or the addition to wealth, takes the form of growing bank deposits, pension saving, paying off debt (such as mortgages), and buying new homes.

Household expenditure and income both rose in 2024, with the ratio between the two roughly remaining constant in the last two years. Prices continued to go up in the year, but even after adjusting for that, household incomes were still increasing. This was due mainly to more income from work, as the number of people working and the average pay per worker both grew. Households also received higher social benefits, and more interest income on their deposits and other financial assets.

New Dwellings Completions

In the first three quarters of 2024, there were 21,634 new dwelling completions, which was a decrease of 3.1% on the same period in 2023.

The number of apartments completed up to Q3 2024 was 6,224, down 17.7% when compared with the first three quarters of 2023.

There were 11,514 scheme dwelling completions between January and September 2024, a rise of 7.1% from 2023, while 3,896 single dwellings were completed, which was a drop of 3.1% from the same period in 2023.

In the first three quarters of 2024, 53.2% of completions were scheme dwellings, a further 28.8% were apartments, and 18.0% were single dwellings.

We can see the number of new dwelling completions in July, August, and September (Q3) 2024 was 8,939, up by 6.3% from Q3 2023.

Scheme dwellings rose by 23.2% in Q3 2024 compared with the same quarter in 2023. Apartment completions fell by 7.2% in the 12 months to Q3 2024 and accounted for more than a third (34.6%) of all completions. Completions of single dwellings fell by 5.3% in Q3 2024, compared with the same quarter in 2023.

The number of new dwelling completions rose in five of the eight regions of the country in the 12 months to Q3 2024, with a fall recorded in three regions.

The largest relative increase was in the South-East (Carlow, Kilkenny, Waterford, and Wexford) (53.7%), with rises also in the Mid-West (Clare, Tipperary, Limerick City and County) (45.8%), South-West (Kerry, Cork City and County) (33.5%), Midlands (Laois, Longford, Offaly, and Westmeath) (17.4%), and Dublin (4.7%) regions.

Decreases in new dwelling completions were recorded in the regions of the Mid-East (Kildare, Louth, Meath, and Wicklow) (-20.7%), West (Galway City, Galway County, Mayo, and Roscommon) (-14.7%), and Border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) (-7.5%) regions.

Note: Single dwellings are one-off dwellings connected to the ESB network. Scheme dwellings are houses that form part of a multi-unit development of two or more houses connected to the ESB network. Apartment dwellings are within a multi-unit development and are specifically identified by the ESB as apartments. Note: All median prices mentioned above are rolling 12-month medians. The RPPI results for the previous three months are provisional and subject to revision. All figures are correct at the time of publication up to 18 December 2024.
Residential Property Price Index

Property prices steadily increased over the course of 2024 with the Residential Property Price Index (RPPI) reaching a value of 188.5 in October 2024, which was 9.7% higher than the same month in 2023 and 15.2% above its highest level at the peak of the property boom in April 2007.

The median price of a dwelling purchased in the 12-months to October 2024 was €350,000, compared with €323,000 in October 2023. Dublin had the highest median price for each of the first 10 months of the year, reaching €470,000 in October 2024. Within Dublin, Dún Laoghaire-Rathdown was the most expensive area, where the median price of a dwelling was €645,000 in October 2024. Outside of Dublin, Wicklow had the highest median price, with a high of €455,000 in September and October 2024.

Population

Ireland's population was estimated to be 5.38 million as of April 2024. This was up by 98,700 people from April 2023 and was the largest 12-month population increase in 16 years since 2008 when the population rose by 109,200.

Breaking it down by age group, we can see there were 833,300 people living in Ireland aged 65 years and over in April 2024, which has grown by 156,800 people since 2018. The proportion of those in this age group also showed growth, from 13.8% to 15.5% of the total population ( See Figure 1.8).

At the other end of the age scale, there were more than a million (1,010,300) people living in Ireland aged 0-14 years as of April 2024. This age group had a fall in population share between 2018 and 2024, from 20.8% to 18.8% of the total population, with a volume decrease of 4,100 ( See Figure 1.8).

Migration

The number of immigrants, or those entering the State, in the year to April 2024 was estimated to be 149,200, while the number of emigrants, or those leaving the State, over the same period was estimated at 69,900. These combined flows gave positive net migration (more people having arrived than left) of 79,300 in the year to April 2024, compared with 77,600 in the previous year.

Of these migrants, 30,000 were returning Irish citizens to the State and 34,700 were Irish emigrants, leading to a net outflow of Irish citizens from the State of 4,700 people.

When looking at the age profiles of the migration flows in the 12 months to April 2024, we can see that more than half (52% or 77,200 people) of total immigrants and just under half (48% or 33,500 people) of total emigrants were aged between 25-44 years. Among emigrants, 35% were aged between 15-24 years, while only 17% of immigrants were in this age group. When looking at the youngest age group, those aged between 0-14 years accounted for 16% of immigrants compared with just 7% of emigrants ( See Figure 1.9).

Population and Labour Force Projections 2023-2057

One interesting trend highlighted by the CSO's Population and Labour Force Projections 2023 - 2057 release published last July, is the predicted change in our population make-up due to fewer births.

This release used Census 2022 as the basis for its projections as well as educated assumptions for fertility, mortality, and migration in order to model projected population and labour force trajectories over the next 34 years. Three projections were made using different assumptions for migration, with one set of fertility, mortality, and labour force assumptions remaining consistent for each of the projection scenarios.

Through all three projection models, there is a predicted change in our population from a natural increase (i.e. more births than deaths) to a natural decrease (i.e. more deaths than births). This change will be driven by Ireland's ageing population and although the timing of this change depends on the scenario chosen, in all three projection scenarios it is predicted to happen in the 2040s ( See Figure 1.10.).

When it comes to our ageing population demographic, we can see the number of people aged 65 years and over is set to increase significantly over the period of these projections. In fact, the number of people aged 65 years and over is set to exceed more than one million by 2030.

Employment

Growth in Ireland's labour market continued in 2024, with the estimated number of people in employment rising to just under 2.8 million in Quarter 3 (Q3) 2024.

The employment rate, which measures the working age population aged 15 to 64 years, hit 75.3% in Q3 2024 - the highest point in 26 years since the current series began in 1998. In Q3 2024 the youth (15-24 years) employment rate exceeded 50% for the first time since 2008.

The number who were classified as unemployed was just under 130,000 people in Q3 2024, with an unemployment rate of 4.5%.

The labour market participation rate for those aged 15 years and over was 66.6% in Q3 2024, its highest level since 2008.

The chart shows the estimated participation rate for males and females over the 20-year period from Q3 2004 to Q3 2024. The participation rate for females of 61.8% recorded in Q3 2024 was the highest observed since the series began and up from 55.6% in Q3 2014. The male rate of 71.6% in Q3 2024 was up from 69.4% 10 years earlier, but down from the series high of 77.2% recorded in Q3 of both 2006 and 2007.

Earnings

As of Q3 2024, average weekly earnings were €955.49, up by almost €279 or more than 41% when compared with 10 years earlier in Q3 2014. Average weekly earnings have risen in every sector of the economy over that 10-year period.

Figure 1.12 below shows preliminary estimates for average weekly earnings by economic sector for Q3 2024 and final estimates for Q3 2014.

The sector with the highest average weekly earnings in Q3 2024 was Information & Communication, followed by Financial, Insurance & Real Estate Activities. Interestingly, these were the same sectors with the highest average weekly earnings in Q3 2014.

The largest percentage increase in average weekly earnings in the 10 years to Q3 2024 was in the Information & Communication sector, up by more than €630.00 (62.5%) from €1,019.08 to €1,656.40. The second largest growth over the last 10 years was in the Administrative & Support Service Activities sector, where average weekly earnings rose by just over €270.00 (55.9%) from €483.92 in Q3 2014 to €754.29 to Q3 2024.

The sector where average weekly earnings have had the lowest percentage increase was Public Administration & Defence, up by just over €230.00 (25.3%) from €911.56 in Q3 2014 to €1,142.32 in Q3 2024. The second lowest growth was in the Transportation & Storage sector, up by just over €198.00 (27.8%) from €712.93 in Q3 2014 to €911.06 in Q3 2024.

Trade

Total exports of goods between January to October 2024 were valued at €187 billion, over €20 billion (13%) more than in the first 10 months of 2023.

Exports of Chemicals & Related Products accounted for two-thirds of the total value of goods exports in the first 10 months of 2024 at €123 billion.Total goods imports for the first 10 months of 2024 were €110 billion, which was just over €4 billion lower than the same period of 2023.

Imports of Machinery & Transport Equipment accounted for more than €45 billion (41%) of total imports for January to October 2024.
Note: The primary purpose of the Retail Sales Index (RSI) is to provide a short-term indicator of changes in the value and volume (or quantity) of retail sales in Ireland. It provides an accurate, objective, and timely measure of retail trading and supplies a valuable guide to consumer behaviour in the Irish economy.
Retail Sales

Retail Sales are a key economic indicator, and in October 2024 (Provisional), the monthly volume of Retail Sales in all businesses was up by 0.9% in the year when compared with October 2023. Over the previous 12 months from October 2022 to October 2023 there was a 0.8% increase. Excluding Motor Trades, the annual volume of retail sales also rose by 0.9% to October 2024 compared with an annual decrease of 0.5% to October 2023, although the volume of sales (excl. motor trades) has been relatively static throughout 2023 and 2024.

Looking in particular at bar sales, the volume of sales was down by 7.4% on an annual basis to October 2024 compared with an annual drop of 1.6% to October 2023.

Vehicles Licensed for the First Time

Consumers preference for climate-friendly transport options continued strongly in 2024 with CSO data showing growth in the number of electric and plug-in hybrid (PHEV) vehicles licensed in Ireland.

Almost half (46%) of all new private cars licensed were electric, PHEV, or hybrid to date in 2024.

The share of electric cars as the total number of new cars licensed grew from 1% in 2018 to 19% 2023. However, the number of new electric cars licensed has fallen by a quarter (25%) down to 16,786 between January and November 2024 from 22,249 when compared with the same 11-month period of 2023.

It is interesting to note that Tesla Model 3 and Model Y, which only makes electric cars, were ranked 1 and 2 respectively in June 2024 while Tesla Model 3 was also ranked number one in November 2024 as the most popular make and model of new private car licensed.

At the same time, the share of diesel cars in Ireland is falling. In 2018, 54% of all new cars licensed were diesel cars compared with 27% in 2023. However, in the first 11 months of 2024, the number of diesel cars licensed had risen by 3% when compared with the same period of 2023.

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Consumer Price Index The Consumer Price Index (CPI), Ireland's official measure of inflation, dropped steadily over the course of 2024 from a high of 4.1% in January 2024 to 0.7% in both September and October 2024. It rose slightly to 1.0% in November 2024, which was the latest month for which data is available at the time of publication.

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Leah

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Markets react positively to UK and US inflation data

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Iseq closes slightly up with food companies rising

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https://www.statista.com/statistics/1346108/ireland-inflation-rate/#:~:text=The%20inflation%20rate%20for%20the,were%20falling%20by%201.5%20percent.

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jennifer

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ECB’s Philip Lane warns inflation risks falling dangerously low if growth stalls

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Eleonora

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Housing price inflation increased by 8.2% in the 12 months to May 2024 | BreakingNews.ie

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The highest house price growth in Dublin was in Dublin City at 10.6 per cent, while Dún Laoghaire-Rathdown saw a rise of 7.7 per cent.

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The Consumer Price Index (CPI) rose by 1.0% between November 2023 and November 2024, up from an annual increase of 0.7% in the 12 months to October 2024.

Excluding energy and unprocessed food, the CPI went up by 2.0% in the 12 months to November 2024.

The divisions with the largest increases in the 12 months to November 2024 were Restaurants & Hotels (+3.8%) and Alcoholic Beverages & Tobacco (+3.5%).

The divisions to record the largest declines when compared with November 2023 were Clothing & Footwear (-7.5%) and Transport (-1.6%).

Consumer prices fell by 0.5% in the month between October 2024 and November 2024.

The divisions with the largest declines in the month were Recreation & Culture (-2.6%) and Alcoholic Beverages & Tobacco (-1.2%).

The divisions to record the largest growth in the month were Clothing & Footwear (+0.4%) and Food & Non-Alcoholic Beverages (+0.2%).

Figure 1 shows the development of the CPI and HICP over recent months. It also shows the recent difference between the CPI and HICP. This difference is primarily due to the fact the CPI includes mortgage interest whereas the HICP does not include mortgage interest.

Prices on average, as measured by the CPI, were 1.0% higher in November 2024 compared with November 2023.

The most notable changes in the year were increases in Restaurants & Hotels (+3.8%), Alcoholic Beverages & Tobacco (+3.5%), Recreation & Culture (+2.8%) and Education (+2.3%). The divisions to show a decrease were Clothing & Footwear (-7.5%), Transport (-1.6%), Furnishings, Household Equipment & Routine Household Maintenance (-0.5%) and Housing, Water, Electricity, Gas & Other Fuels (-0.2%).

Consumer Prices in November, as measured by the CPI, decreased by 0.5% in the month. During November of last year, prices fell by 0.8% in the month. The most significant monthly price changes were decreases in Recreation & Culture (-2.6%) and Alcoholic Beverages & Tobacco (-1.2%). The largest increases were recorded in Clothing & Footwear (+0.4%) and Food & Non-Alcoholic Beverages (+0.2%).

Annual Change

Table 3 shows the contribution of each 2-digit COICOP ¹ division to the overall change in the CPI. A detailed breakdown of the individual components of each of the 12 COICOP divisions is presented in Tables 4 to 15.

The divisions which caused the largest upward percentage point (pp) contributions to the CPI in the year were Restaurants & Hotels (+0.73 pp), Miscellaneous Goods & Services (+0.23 pp), Food & Non-Alcoholic Beverages (+0.19 pp) and Recreation & Culture (+0.19 pp).

The divisions to cause a downward contribution to the CPI in the year were Clothing & Footwear (-0.41 pp), Transport (-0.20 pp), Furnishings, Household Equipment & Routine Household Maintenance (-0.03 pp) and Housing, Water, Electricity, Gas & Other Fuels (-0.01 pp).

The main factors contributing to the annual change were as follows:

Restaurants & Hotels rose mainly due to higher prices for food and alcoholic drinks consumed in licensed premises, restaurants, cafes etc.

Miscellaneous Goods & Services increased primarily due to higher health and motor insurance premiums and an increase in prices in hairdressing salons & personal grooming establishments. This increase was partially offset by lower prices for childcare services and other appliances, articles & products for personal care.

Food & Non-Alcoholic Beverages rose due to higher prices across a range of products such as chocolate & confectionery, vegetables and mineral waters, soft drinks, fruit & vegetables juices.

Recreation & Culture increased primarily due to higher prices for recreational & sporting services, package holidays and cultural services.

Clothing & Footwear fell due to lower prices for garments and shoes & other footwear.

Transport decreased primarily due to lower prices for diesel, petrol and airfares. This decrease was partially offset by an increase in the cost of the maintenance & repair of personal transport equipment and other services in respect of personal transport equipment.

Furnishings, Household Equipment & Routine Household Maintenance fell mainly due to lower prices for household textiles.

Housing, Water, Electricity, Gas & Other Fuels decreased primarily due to a reduction in the price of electricity, liquid fuels (home heating oil), gas, and solid fuels. This decrease was partially offset by an increase in the cost of rent and mortgage interest repayments.

¹ Classification of Individual Consumption by Purpose Adapted to the Needs of Harmonised Indices of Consumer Prices (2000).
Monthly Change

The divisions which caused the largest downward percentage point contributions to the CPI in the month were Recreation & Culture (-0.19 pp) and Restaurants & Hotels (-0.12 pp). The divisions which caused the largest upward percentage point contributions to the CPI in the month were Food & Non-Alcoholic Beverages (+0.02 pp) and Clothing & Footwear (+0.02 pp).

The main factors contributing to the monthly change were as follows:

Recreation & Culture fell mainly due to lower prices for package holidays.

Restaurants & Hotels decreased due to a reduction in the cost of hotel accommodation. This decrease was partially offset by higher prices for alcoholic drinks and food consumed in licensed premises, restaurants, cafes etc.

Food & Non-Alcoholic Beverages increased due to higher prices across a range of products such as milk, cheese & eggs.

Clothing & Footwear rose due to a recovery from sales.

Tables 4 to 15 detail all COICOP ¹ sub-indices of the CPI.

Table 2 and table 17 detail selected consumer price index sub-indices. The sub index for Services rose by 2.5% in the year to November, while Goods decreased by 1.1%. Services, excluding mortgage interest repayments, increased by 2.4% in the year since November 2023.

The CPI excluding tobacco decreased by 0.6% in the month of November and rose by 0.8% in the year. The CPI excluding mortgage interest fell by 0.5% in the month and increased by 0.9% in the year.
¹ Classification of Individual Consumption by Purpose Adapted to the Needs of Harmonised Indices of Consumer Prices (2000).
Prices on average, as measured by the EU Harmonised Index of Consumer Prices (HICP), increased by 0.5% compared with November 2023.

Table 19 details the COICOP sub-indices for the HICP. The most notable changes in the year were increases in Restaurants & Hotels (+3.7%), Alcoholic Beverages & Tobacco (+3.5%), Recreation & Culture (+2.7%) and Education (+2.2%). There were decreases in Clothing & Footwear (-7.5%), Transport (-1.8%), Miscellaneous Goods & Services (-1.5%) and Housing, Water, Electricity, Gas & Other Fuels (-1.2%).

The HICP decreased by 0.5% in the month. This compares to a decrease of 0.9% recorded in November of last year.

The most significant monthly price changes were decreases in Recreation & Culture (-2.7%) and Alcoholic Beverages & Tobacco (-1.3%). There were increases in Clothing & Footwear (+0.5%) and Food & Non-Alcoholic Beverages (+0.2%).

National Average Prices for selected goods and services for November 2024 are detailed in Table 20.

Looking at the National Average Prices of some staple items:

The national average price for bread (large (800g) white sliced pan) was down 3 cents in the year to November 2024, while the same size brown sliced pan reduced by 1 cent in the year.

Spaghetti per 500g increased by 1 cent in the year, while the average price for 2.5kg of potatoes was up 18 cents.

The national average price of full fat milk per 2 litres was up 13 cents in the year, while butter per lb rose by 58 cents and the average price of Irish cheddar per kg increased by 23 cents.

The national average price of a take-home 50cl can of lager at €2.42 was up 9 cents from November 2023, while a take-home 50cl can of cider at €2.68 was up 8 cents.

In November 2024, the national average price of a pint of stout in licensed premises was €5.82, up 18 cents in the year, while a pint of lager was €6.26, up 19 cents compared with November 2023.

National Average Price

National Average Prices for selected goods and services for November 2024 are detailed below

These prices are compared to the same product and service in November 2023. A full list of National Average Prices is detailed in Table 20.

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Consumer Price Index November 2024 - Central Statistics Office

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The Consumer Price Index (CPI) rose by 1.0% between November 2023 and November 2024, up from an annual increase of 0.7% in the 12 months to October 2024.

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Ireland 2024: The Year in Numbers - Central Statistics Office

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The Consumer Price Index (CPI), Ireland’s official measure of inflation, dropped steadily over the course of 2024 from a high of 4.1% in January 2024 to 0.7% in both September and October 2024. It rose slightly to 1.0% in November 2024, which was the latest month for which data is available at the time of publication. These rates were down on the high inflation levels seen in 2022 when inflation peaked at 9.2% in October 2022.

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Fran

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Budget 2025 was announced on Tuesday, 1 October 2024. This page provides a summary of the main budget measures and will be updated regularly.

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Genia

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www.rte.ie needs to review the security of your connection before proceeding.

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Ministers Foley, Naughton and Byrne announce details of almost €12 billion education funding in Budget 2025

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Ministers Foley, Naughton and Byrne announce details of almost €12 billion education funding in Budget 2025

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https://www.rte.ie/news/2024/0915/1470112-budget-2025-analysis/

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Budget 2025 tax and welfare measures will result in small real income gains for households in 2025

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Chloe

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Budget 2025 tax and welfare measures will result in small real income gains for households in 2025

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Measures announced as part of Budget 2025 will result in small income gains on average next year, compared to a budget indexed to forecast income growth, according to new research presented today at the Economic and Social Research Institute (ESRI) post-budget briefing. The package of tax cuts, welfare increases, cost-of-living measures and indirect tax cuts has grown broadly in line with forecast wage growth of 4.2% for 2025, compared to the 2024 package. However, there is variation in how it will affect households of different income levels, with smaller gains for middle income households.

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Mr. Garry

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Watchdog warns €9.1bn bonanza Budget ‘repeats Ireland’s past mistakes’

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The Irish Fiscal Advisory Council also criticised the government for failing to target spending at those most in need.