Inflation rose in December but remains below 5%

Consumer Price Index grew to 4.6 per cent last month driven by prices increases in recreation and hospitality industries

The data brings the annual average rate of inflation in 2023 to 6.3 per cent. Picture: Getty

The annual rate of inflation rose to 4.6 per cent over the 12 months to December 2023, new figures from the Central Statistics Office (CSO) show.

The Consumer Price Index - the main metric tracking inflation in Ireland - rose 0.5 per cent between November and December, marking the second consecutive month that price growth remained below 5 per cent since September 2021.

Removing energy and unprocessed food costs from the equation, prices rose by ...