Economics

New figures show inflation may have peaked

New figures from the Central Statistics Office show a softening in prices due to an easing in energy costs

A shopper pictured leaving a supermarket in Dublin. Photo: Sasko Lazarov/RollingNews.ie

Consumer prices rose by 7.7 per in the year to the end of January, new figures from the Central Statistics Office (CSO) show.

This is down from an annualised growth rate of 8.2 per cent in December.

Energy prices fell slightly in January, declining 0.1 per cent versus the previous month. However they are up 33.1 per cent compared January 2022.

According to the CSO, consumer prices excluding energy costs rose 5.3 per cent year-on-year.