Energy prices rose by 11.1% in March

The EU Harmonised Index of Consumer Prices is estimated to have risen by 3.6% in Ireland over the last 12 months, according to the CSO.

The HICP rose by 1.8% from February 2026 to March 2026. When compared with HICP inflation of 2.5% in the year up to February 2026, there was also a rise of 1.9% in the Eurozone for the same period.

Partly down to the war in Iran, energy prices are estimated to have risen by 11.1% in March, and were up by 12.3% in the 12 months up to March 2026.

As well as this, food prices are estimated to have decreased by 0.3% in March,but have gone up by 2.3% in the last year.

Disregarding energy and food price increases, the overall HICP is said to have grown by 2.6% since March last year.

Anthony Dawson, Statistician at the Central Statistics Office, said: “The latest flash estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have risen by 3.6% in the past year.

“Looking at the components of the flash HICP in Ireland for March 2026, energy prices are estimated to have increased by 11.1% in the month and risen by 12.3% since March 2025.

“These increases in energy prices may have been influenced by recent events in the Middle East. These prices were collected in mid-March and before the Government measures on energy costs were introduced.

“The HICP excluding energy and unprocessed food prices is estimated to have gone up by 2.6% since March 2025.

“Food prices are estimated to have decreased by 0.3% in the last month and gone up by 2.3% in the last 12 months. Service prices have risen by 0.9% in the month and are up by 3.3% in the 12 months to March 2026.”