Inflation in Irish economy falls to 5.4% but underlying price growth remains strong via IrishTimesBiz
Headline inflation in the Irish economy fell to 5.4 per cent in May on the back of falling energy prices, according to the latest harmonised index of consumer prices . This compares to 6.3 per cent in April and an annual increase of 7 per cent in the euro zone in the same period.
However, core or underlying inflation, a price gauge that excludes volatile items like food and energy, rose to 5.7 per cent, keeping the pressure on households. Underlying price growth has been a key focus of European Central Bank policymakers amid concern the initial price surge has spread out to other parts of the economy and may be driving higher wage demands.
The European Central Bank has warned it will keep raising interest rates as long as core inflation is rising.
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