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Irish Prices Surge To A High Of 8.2% In May, According To New Figures

Stock image: Pexels

Ireland’s annual inflation in May was estimated at 8.2%, up from 7.3% in the previous month.

Prices in Ireland have risen by more than eight per cent in the past year,according to European figures, which looked at every country.

8.2% has been the average increase of prices in the year up to May in Ireland, slightly higher than the Eurozone average of 8.1%.

Last month, the annual increase was put at 7.3%.

A big contributing factor to the rise is energy costs, which over the past 12 months have grown by 46.2%, while in the past month it went up by 6.7%.

These totals are estimates with the CSO expected to give a more accurate figure on inflation in Ireland in June.

Lithuania and Latvia have seen some of the largest increases over the past year, at more than 15%.

Estonia saw the highest increase across Europe at a 20% rise in the past year.

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