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Ireland’s annual inflation rate picked up to 2.0% in March, reaching the highest level since July 2024, figures from the Central Statistics Office showed on Thursday. Consumer prices, as measured by the consumer price index, increased by 2.0% in March from a year before, accelerating from a 1.8% annual rise in February. Excluding energy and unprocessed food, core annual inflation was 2.2% in March, unchanged from February. The largest annual price increases last month were recorded in Alcoholic Beverages & Tobacco, up 4.2%, and Food & Non-Alcoholic Beverages, up 3.3%, the CSO said. Price declines were observed in Clothing & Footwear, down 1.9%, and in Furnishings & Household Equipment, down 0.8%. On a monthly basis, consumer prices rose 0.7% between February and March, slowing from 0.9% between January and February. Transport costs increased 1.9% on month in March, due to higher airfares, the CSO said, while prices for Restaurants & Hotels rose 1.2%. The only sector to record a monthly decline in March was Furnishings & Household Equipment, down 0.1%. The harmonised index of consumer prices, which excludes mortgage interest and enables EU-wide comparisons, rose 1.8% year-on-year in March, accelerating from 1.4% in February. On a monthly basis, it increased by 0.7%, slowing from 0.8% in February. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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