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MNI BRIEF: Irish Inflation Slows But Core Sticky- Central Bank

(MNI) LONDON
(MNI) London

Central Bank of Ireland says domestic inflation to slow below ECB's overall 2% target, but core still sticky through forecast period.

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Consumer price rises continue to slow in Ireland, although inflationary pressures remain strong, with core HICP inflation remaining higher and stickier than the headline rate throughout the current projection period, the Central Bank of Ireland said on Tuesday in its latest quarterly bulletin.

However, headline HICP inflation is still forecast to decline over the next years, and at a faster pace than previously expected, falling to 2.0% in 2024, 1.8% in 2025 and 1.4% in 2026 -- all below the current eurozone projections published by the ECB on Mar 7. It was the first time in over two years that Irish inflation projections have fallen below those for the eurozone.

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Consumer price rises continue to slow in Ireland, although inflationary pressures remain strong, with core HICP inflation remaining higher and stickier than the headline rate throughout the current projection period, the Central Bank of Ireland said on Tuesday in its latest quarterly bulletin.

However, headline HICP inflation is still forecast to decline over the next years, and at a faster pace than previously expected, falling to 2.0% in 2024, 1.8% in 2025 and 1.4% in 2026 -- all below the current eurozone projections published by the ECB on Mar 7. It was the first time in over two years that Irish inflation projections have fallen below those for the eurozone.

Keep reading...Show less