Inflation increases to 0.5% in November - flash estimate

Consumer prices rose by 0.5% in the year to November compared to 0.1% in October - the highest level in three months - a flash estimate of the Harmonised Index of Consumer Prices (HICP) from the Central Statistics Office shows today.

Recent sharp falls had put inflation among the lowest in the euro zone last month. Consumer prices were 2% higher on average year-on-year across the bloc in October.

Today's CSO figures show that energy prices are estimated to have grown by 0.2% in the month and fallen by 7.7% in the year to November.

Food prices are estimated to have risen by 0.3% in the last month and climbed by 1.7% in the last 12 months, while transport costs have fallen by 0.8% in the month and declined by 1.7% from the same time last year.

The CSO publishes the flash estimate of the rise in the cost of living from the EU Harmonised Index of Consumer Prices (HICP).

Eurostat will publish euro zone flash estimates of inflation from the EU HICP for November tomorrow.