The most recently published inflation figures for Ireland – January 2000 – show a year-on-year increase of 4.0% in the consumer price index – CPI – and a 4.4% increase in the harmonised index of consumer prices – HICP. The most recently published EU HICP was 1.7% for December; this compares with the December HICP figure of 3.9% for Ireland.
The recent increase in the rate of inflation reflects a number of factors which include the fall in the value of the euro, the increase in crude oil prices which have added over 1% to inflation, and the budget increase in excise duty on tobacco, which was introduced for health promotion purposes, and which has added about 0.75% to inflation.