Rising food costs see inflation climb to 1.6%
Irish inflation climbed upwards in the 12 months to June 2025 with continuing food price hikes putting growing pressure on consumer costs.
New flash figures released by the Central Statistics Office (CSO) on Monday found that annual inflation rose by 1.6% in June when measured using the EU harmonised index of consumer prices (HICP).
This compares with a 1.4% figure for the previous month and an annual increase of 1.9% for the overall eurozone in the same period. Energy prices are estimated to have fallen by 0.2% in the month, while decreasing by some 1.8% annually.
Meanwhile, food prices continue to trend upwards, with a 0.3% rise in the past month contributing to a 4.3% hike since June 2024. Excluding energy and unprocessed foods, Irish inflation using the HICP is estimated to have risen by 1.9% since June 2024.
The consumer price index (CPI) is the official measure of inflation in Ireland, while the HICP is an index of consumer prices that has been harmonised to allow for comparisons across euro area countries. While the CPI includes mortgage rates in its basket of goods, the HICP does not.
Euro area inflation is likely to have quickened for the first time since the start of the year in June, though it matched the European Central Bank's goal in the process, according to economists.
Having been in retreat since January, consumer prices rose 2% from a year ago this month, up from 1.9% in May, a Bloomberg survey showed.
An underlying measure that strips out volatile elements like energy is tipped to remain at 2.3% when Eurostat publishes data on Tuesday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Irish Sun
3 hours ago
- The Irish Sun
‘Hard pill to swallow' – Popular Dublin salon set to close after nine years in business
A POPULAR Dublin salon has announced that they are closing after nine years in business. Rose Royal Beauty in Inchicore, 1 Rose Royal Beauty in Dublin is set to close down Credit: Google Maps Kerrin, the owner of the beloved salon, is stepping away after nine successful years. And she announced the closure in an Taking to social media, the owner broke the news to her customers. She said: 'Bittersweet post – a hard pill to swallow but everything happens for a reason, trust the universe. READ MORE IN MONEY "I have been prolonging this post for a while now but I have to make the right decision for both myself & my little family. 'With that being said, it has been emotional to come to the decision to close my salon after nine great years in business. 'I couldn't have built up my little salon and kept it going without the ongoing support from my clients, also clients who became friends.' Her post quickly grabbed attention, with over 250 'likes' on Instagram and dozens of comments from loyal clients expressing how much they will miss her services. MOST READ IN MONEY And Kerrin revealed that for the time being, she will be focusing on her two She added: "This all being said I'm not giving up 100 per cent on being a nail technician, when ready to return to work I will work from home and take it from there. "It's time in my life now to take a step back and destress from it all and enjoy my beautiful children and I am and ever will be thankful to all that supported me from day one.' Beloved Italian restaurant chain abruptly closes 4 locations after going bankrupt for third time and fans 'so sad' People have taken to the comments section to share their support. One person wrote: 'Very proud of how you ran the shop for so long even with two kids, you've done amazingly, but now it's time to focus on you.' Another commented: 'Very best of luck for the future.' A third person said: 'Enjoy that precious time with your babies you will never regret a moment with them.' Meanwhile, punters have been left devastated after a popular Irish pub served its final pint. The Ramble Inn in Halfway, Co The traditional Irish Its closure marked the end of a 44-year era under Alan and Mary Barry's stewardship. Previous owners had included the Sullivan and Hanely families. Speaking about the closure, Alan listed some of the reasons for pubs' demise across the country. He continued: "Home drinking has become very, very popular, especially since the pandemic, and I blame the supermarkets and cheap drink for that. 'It's sad to see what's happening with the pubs throughout rural Ireland. It's the way of life gone, you know? 'All these places made a living. That's during the famine. And they kept the doors open. Now we're closing them.'
Sunday World
3 hours ago
- Sunday World
Up to 195 jobs set to be lost at Intel chip company plant in Kildare
The chip company has notified the government of its plans, with expected losses far fewer than the 20pc layoff figure floated earlier this year Intel faces up to 195 job losses at its 4,900-staff Kildare plant.. The proposed cuts, details of which have been notified to the government as required under Irish law, would represent 4pc of the facility's workforce, a figure far short of the 20pc floated in a report by Bloomberg earlier this year. No information of staff positions or titles potentially affected have yet been disclosed. Details of financial compensation packages have also not been disclosed. However, the cuts are not expected to take effect before September, following an industrial relations process. The company has previously said that cuts would involve "streamlining the organisation, eliminating management layers', with no further detail on the sectors to be targeted, other than that it intended to shrink expenses in 'R&D, marketing, general and administrative' divisions. Intel's recently-appointed CEO, Lip Bu Tan, previously emailed staff to tell them that a wave of job cuts was coming. 'There is no way around the fact that critical changes will reduce the size of our workforce," he said in April. Intel had already announced significant layoffs last year, cutting numbers by around 15,000 to leave the company's headcount at just over 100,000 worldwide. "As we announced earlier this year, we are taking steps to become a leaner, faster and more efficient company,' said a spokesperson for Intel Ireland today on the subject of the expected layoffs. Stock image Today's News in 90 Seconds - June 30th "We are making these decisions based on careful consideration of what's needed to position our business for the future, and we will treat people with care and respect as we complete this important work.' The struggling chip company remains one of Ireland's largest employers and has been a mainstay of the country's industrial setup since it set up its first plant there in 1989, investing more than €30bn in chip-making operations. In 2023, Intel opened the first part of a new €17bn Fab 34 plant, complete with high-end chip making equipment that can make the company's new advanced AI chips, its brand new 1.8 nanometre '18A' variant on which it is basing a chunk of its future survival. In 2024, Intel sold 49pc of the aforementioned Fab 34 Leixlip facility to a private hedge fund, Apollo, for $11bn. It recently announced a 'foundry' plan to make chips for other companies, like industry-leading TSMC does. CEO Lip-Bu Tan is seen as a costcutter by nature, having left the Intel board last year over a dispute with the then CEO, Pat Gelsinger, over the company having too many staff.
The Irish Sun
3 hours ago
- The Irish Sun
Aldi Ireland store remains closed for FOURTH day in row as bosses give update and apology
ALDI Ireland bosses have confirmed a popular store will remain closed for the fourth day in a row. The budget supermarket, located on the Dublin Road in 3 The Aldi store in Cavan remains closed Credit: Google Maps Staff took to social media to apologise and warn shoppers of the closure due to 'ongoing technical issues'. The busy store is usually open from 8am to 10pm Monday to Saturday and 9am to 9pm on Sundays. The The supermarket giant shared the customer notice on their READ MORE ON MONEY They said: 'Unfortunately our Cavan, Dublin Road store will remain closed again today, Monday due to an ongoing technical issue. 'We apologise to our customers for the inconvenience, and look forward to welcoming them back in-store very soon.' Shoppers took to the comments to share their thoughts. One person said: 'Surely something in the middle aisle will fix it?' Most read in Money Another joked: 'They have duck tape in this week, surely that would do it.' While another added: 'Aw well done, amazing weekend for staff they deserve [to] relax and get paid.' The sausage roll that's better than Greggs – and it beats Aldi and Lidl too Meanwhile, Aldi Ireland chiefs announced a €5 million investment in green energy solutions. Solar panel installations will be added to 22 selected stores, with an additional 22 stores scheduled for installation in 2026. Sustainability Manager at 'We're excited to launch this solar retrofit programme, beginning with 22 stores in 2025 and continuing with even more in 2026.' Teaming up with Greenvolt Next Ireland, the retailer will have 288 solar panels. They are expected to generate an average of 100,000 kWh annually; the equivalent of powering a washing machine for over 1,000 cycles, which covers approximately 30 per cent of each store's electricity consumption. CEO at Greenvolt Next Ireland, Owen Power, said: 'Major retailers like Aldi have a quick and easy route to adopting renewable energy. 'With their large flat roof spaces, installing solar panels is straightforward, doesn't interfere with daily operations, and requires low maintenance. 'It is fantastic that Aldi is seizing the benefits of solar to meet its climate goals, as well as reduce energy costs and reliance on the grid. 'We are thrilled to be Aldi's chosen delivery partner in harnessing solar power.' THE HISTORY OF ALDI The German discount supermarket chain came to Ireland in 1999. Aldi's first few shops opened in November 1999, with locations in Sandyford, Dublin, and Ballincollig, Cork. By the mid-2000s, Aldi bosses had opened numerous stores, focusing on providing high-quality products at low prices. As the recession hit 2008-2012, Aldi's popularity grew as consumers became more price-conscious. The supermarket giant continued it's expansion in Ireland between 2013-2018, while refurbishing existing stores. By 2018, Aldi had over 130 shops throughout the country. The chain began to focus on expanding its range of Irish-made products and supporting local producers. In 2023, Aldi had over 140 stores in Ireland. The store invested in sustainability initiatives, such as reducing plastic packaging and increasing the availability of organic and eco-friendly products. Aldi chiefs said: 'At Aldi we are committed to supporting Irish suppliers. Developed in partnership with Bord Bia, Grow with Aldi is designed to help the very best Irish suppliers develop their brand. 'To date, we've invested €10 million in our Grow with Aldi development programme in a bid to find the very best Irish suppliers. 'As a result, for a limited time only there are over 47 new products, from 27 Irish suppliers available in store.' Aldi have introduced technological advancements with self-checkout systems and contactless payment options. 3 The retailer apologised for the Cavan's store closure Credit: Alamy 3 Aldi chiefs recently announced a €5 million investment in green energy solutions Credit: Aldi
