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Inflation reaches record highs but will the ECB raise interest rates? - Galway Advertiser

    Press/Media

    Description

    Inflation figures released by the Central Statistics Office yesterday reveal that Irish inflation hit a record high. Prices on average, as measured by the Consumer Price Index (CPI ), were 5.5 percent higher in December compared with December 2020. This is the largest annual change in prices since June 2001 when annual inflation was 5.3 percent.

    Subject

    Advertiser.ie - Inflation reaches record highs but will the ECB raise interest rates?

    Period20 Jan 2022

    Media contributions

    1

    Media contributions

    • TitleInflation reaches record highs but will the ECB raise interest rates?
      Degree of recognitionNational
      Media name/outletGalway Advertiser
      Media typePrint
      Country/TerritoryIreland
      Date20/01/22
      DescriptionInflation figures released by the Central Statistics Office yesterday reveal that Irish inflation hit a record high. Prices on average, as measured by the Consumer Price Index (CPI ), were 5.5 percent higher in December compared with December 2020. This is the largest annual change in prices since June 2001 when annual inflation was 5.3 percent. This increase in Irish inflation is mirrored in the euro area. The Harmonised Index of Consumer Prices (HICP ) – the European Central Bank’s (ECB ) preferred measurement of inflation - stood at 5 percent in December 2021 according to Eurostat’s flash estimate, which was the highest level recorded since the euro was introduced in 1999.
      PersonsMarie Finnegan
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    Keywords

    • Inflation
    • ECB
    • European Central Bank