Annual inflation slows to 4-month low of 3.3%

The rate of inflation is estimated to have eased to 3.3% in June from 3.5% a month earlier to hit a four-month low.

This is according to a flash estimate of the Harmonised Index of Consumer Prices from the Central Statistics Office today.

The CSO said that core inflation, which excludes energy and unprocessed food, also dropped slightly to 2.6% from 2.7% a month earlier.

Today’s CSO figures show that energy prices are estimated to have decreased by 1.9% in the month and have risen by 10% over the 12 months to June.

Food prices are estimated to have gone down by 0.3% in June and gone up by 0.7% in the last 12 months, the CSO added.

The corresponding rate for the euro zone will be published tomorrow.