Higher energy prices push inflation to 4.3% in October

Updated / Wednesday, 11 Nov 2026 11:35

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Higher energy prices have pushed the rate of inflation to 4.3% for the 12 months to October.

This compares with 4.1% for the year to September, according to the latest Consumer Price Index figures from the Central Statistics Office.

Home heating oil prices were up 74.4% in the year to October.

Diesel prices rose 27.9% and petrol was up 16%.

Electricity prices increased 6.7% and gas rose 6.3%.

Airfares were up 16% while postal and courier services rose 12%.

CSO statistician Anthony Dawson said the rate in October was "the highest rate of inflation since December 2023 when inflation was 4.6%."

Food prices have risen by 0.8% over the past year but many economists have warned grocery prices could increase further this year as a result of higher fertiliser costs adding to farming costs.

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Today's figures show price rises for sirloin steak per kg (up 15 cent), a 2.5kg bag of potatoes (up 12 cent) and an 800g loaf of white sliced pan (up one cent).

But dairy prices fell with decreases for butter (down 57 cent), Irish cheddar per kg (down 28 cent) and 2 litres of full fat milk (down four cent).