Inflation continues to ease but prices still 7.8% higher than last year

New data showed January was the 16th successive month in which the annual increase in prices was at least 5 per cent

Persistent inflation has raised the cost of living for Irish consumers in the last year. Picture: Getty

Inflation in the Irish economy continued to ease during January, falling for the third month in a row, but prices were still 7.8 per cent higher than the same month last year.

New figures from the Central Statistics Office (CSO) show annual inflation was down from 8.2 per cent in December, highlighting a cooling of prices in the Irish economy.

However, the 7.8 per cent price growth rate was still nearly four times higher than ...