Irish inflation falls month-on-month for first time in almost a year

DUBLIN (Reuters) – Irish inflation fell on a month-on-month basis for the first time in almost a year in December, bringing the annual rate to 8.2% from 8.9% a month earlier, Central Statistics Office (CSO) data showed on Tuesday.

Prices were 0.2% lower month-on-month, driven by a 2.6% fall in transport prices, a 0.7% dip in alcoholic beverages and tobacco and a 0.5% drop in energy costs.

Annual inflation has been above 8% for seven successive months, meaning that the average rate of inflation for 2022 was +7.8%, the CSO said, significantly up on 2.4% during 2021.

(Reporting by Padraic Halpin)