The latest figures from the Central Statistics Office show an easing in the estimated annual rate of inflation in January.
The latest “flash” inflation estimate from the CSO shows that the annual rate of inflation stood at 2.7% in January, down from 3.2% in December.
The core HICP rate, which excludes energy and unprocessed food, was estimated at 3.8% in the year to January, down from growth of 4.3% a month earlier.
Today’s figures compare with an annual increase of 2.9% in the HICP for the euro zone over the the same time.
The CSO said that energy prices are estimated to have decreased by 0.8% in the month and decreased 7% since January 2023.
Food prices are estimated to have decreased by 0.2% in the last month and increased by 4.3% in the last 12 months.
Meanwhile, transport costs have decreased by 4.5% on a monthly basis and increased by 2.2% in the 12 months to January this year, the CSO added.
Eurostat is due to publish flash estimates of inflation for the euro zone for January tomorrow.
Today’s harmonised index of prices does not consider all of the items included in calculating the Consumer Price Index, the official measure of inflation for Ireland, which will be published on February 15.