Consumer Prices Rise 3.7% in April, Highest Since Early 2024, Driven by Energy Costs

Consumer prices in Ireland increased by 3.7% in the year leading up to April, marking the highest annual inflation rate recorded since the beginning of 2024, according to the latest data from the Central Statistics Office (CSO).

This rise was primarily fueled by escalating energy prices. Home heating oil saw a significant surge, with costs increasing by over 80% in the past year. Diesel prices climbed by 26.1% since April 2025, reaching an average of €2.17 per litre, which represents a 45-cent increase compared to the same period last year. Petrol also rose by 9.2% over the same timeframe, averaging €1.91 per litre, an increase of 16 cents per litre from April 2025.

Beyond energy, other sectors experienced substantial increases in the 12 months to April. Education costs rose by 8.9%, the category of «Housing, Water, Electricity, Gas & Other Fuels» increased by 8.1%, and clothing and footwear saw a 7.9% hike. Refuse collection costs also went up by 10.2%. Conversely, passenger airfares decreased by 18.4% in April compared to the previous year.

The CSO noted that price collection for April 2026 occurred between April 13 and 23, meaning some fuel prices were recorded before the implementation of additional government measures concerning fuel costs. Kate English, Chief Economist at Deloitte Ireland, highlighted that the Consumer Price Index clearly indicates that pressure on energy supply chains is driving prices upward. She stated that the European Central Bank would closely monitor this trend in anticipation of its next meeting on interest rates. English added that while overall inflation in 2026 is not expected to reach 2022 levels, upward pressure on prices is likely to persist, inevitably linked to the duration and aftermath of the ongoing conflict in the Gulf region.