Inflation rate in Ireland 2024

In 2018, the inflation rate in Ireland amounted to about 0.73 percent compared to the previous year. Ireland’s inflation is forecast to stabilize over the coming years at around two percent.

The Irish recession

Ireland’s economy was the first one in the EU to collapse and enter a recession during the financial crisis of 2008. Unemployment skyrocketed, gross domestic product declined, many Irish workers emigrated to find jobs elsewhere, and even a decade later, Ireland still struggles to return to its former standards. GDP growth, for example, still fluctuates considerably, just like inflation, and unemployment seems to have only just recovered.

To good health and a stable economy

The Central European Bank recommends a stable inflation around two percent as ideal, and Ireland seems to be on the right track. Most of its GDP is generated by services, for example tourism and financial services. However, the alcohol industry is also an important player: In 2018, more than 3.7 billion U.S. dollars in revenue were reported by the Irish alcoholic drinks market.

Ireland: Inflation rate from 1984 to 2024

Inflation rate compared to previous year
2024*2%
2023*2%
2022*1.9%
2021*1.7%
2020*1.5%
2019*1.2%
20180.73%
20170.25%
2016-0.19%
2015-0.04%
20140.3%
20130.55%
2012 1.88%
2011 1.21%
2010 -1.64%
2009 -1.68%
2008 3.13%
2007 2.88%
2006 2.67%
2005 2.2%
2004 2.31%
20034%
2002 4.69%
2001 4%
2000 5.3%
1999 2.41%
1998 2.13%
1997 1.25%
1996 2.18%
1995 2.52%
1994 2.37%
1993 1.42%
1992 3.15%
1991 3.13%
1990 3.36%
1989 3.99%
1988 2.17%
1987 3.15%
1986 3.04%
1985 5.47%
1984 8.64%
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Source

Release date

October 2019

Region

Ireland

Survey time period

1984 to 2018

Supplementary notes

* Estimate.

Figures have been rounded.

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Statistics on "Economic Outlook Ireland"

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