Latest news with #HICP
Agriland
3 days ago
- Business
- Agriland
CSO: Food prices increase by 4% in past year
Food prices are estimated to have risen by more than 4% since last year according to the latest data released by the Central Statistics Office (CSO) today (Friday, May 30). The EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have risen by 1.4% in the 12 months to May 2025 and remained unchanged since April 2025. This compares with HICP inflation of 2% in Ireland in the 12 months to April 2025 and an annual increase of 2.2% in the HICP for the eurozone in the same period. Looking at the components of the flash HICP for Ireland in May 2025, food prices are estimated to have increased by 1% in the last month and by +4.1% in the last 12 months. Energy prices are estimated to have fallen by 1.3% in the month and decreased by 2.6% over the 12 months to May 2025. The HICP, excluding energy and unprocessed food, is estimated to have gone up by 1.8% since May 2024. Eurostat will publish flash estimates of inflation from the EU HICP for the eurozone for May 2025 on June 3, 2025. Commenting on the data published today, statistician in the CSO Prices Division, Anthony Dawson said: 'The latest flash estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have increased by 1.4% in the past year. 'Looking at the components of the flash HICP in Ireland for May 2025, energy prices are estimated to have decreased by 1.3% in the month and fallen by 2.6% since May 2024. 'The HICP, excluding energy and unprocessed food prices, is estimated to have risen by 1.8% since May 2024. 'Food prices are estimated to have grown by 1% in the last month and increased by 4.1% in the last 12 months. Transport costs have fallen by 3% in the month and decreased by 2.4% in the 12 months to May 2025,' he added. The Consumer Price Index (CPI) is the official measure of inflation for Ireland and is published monthly by the CSO. The CPI release for May 2025 will be published on June 12, 2025 and the final results of the HICP for Ireland for May 2025 will be published as part of the CPI release. The HICP is an index of consumer prices that has been harmonised to allow comparisons across eurozone countries. The CSO compiles the HICP flash estimates and final results for Ireland and submit those to Eurostat which then compiles the eurozone estimate and publishes that along with the results for the countries within the eurozone.
Irish Examiner
3 days ago
- Business
- Irish Examiner
Irish inflation remains steady in May at 1.4%
Irish inflation remained steady in May and was unchanged compared to the previous month. New figures released by the Central Statistics Office (CSO) on Friday found that the EU Harmonised Index of Consumer Prices (HICP) rose by 1.4% in the 12 months to May 2025. This compares with an inflation figure of 2% in the 12 months to April and an annual increase of 2.2% in the HICP for the Eurozone in the same period. Looking at the components of the flash HICP for Ireland in May 2025, energy prices are estimated to have fallen by 1.3% in the month and decreased by 2.6% over the 12 months to May 2025. Meanwhile, food prices are estimated to have increased by 1% in the last month and by 4.1% in the previous 12 months. The HICP excluding energy and unprocessed food is estimated to have risen by 1.8% since May 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. Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for May 2025 on 03 June 2025. It comes as economists warn the ECB to avoid delays in its easing of monetary policy. The bank will lower interest rates twice more, according to a Bloomberg survey, but respondents warned it shouldn't wait too long between those moves or investors will conclude that its easing campaign is already over. Respondents predict quarter-point reductions on June 5 and at September's meeting, when new quarterly forecasts should shed more light on the effects of US President Donald Trump's reordering of global trade. That would bring the deposit rate to 1.75%, where the poll sees it settling through the end of 2026.
Yahoo
3 days ago
- Business
- Yahoo
Italy May EU-harmonised CPI decelerates to 1.9% y/y, in line with forecast
ROME (Reuters) -Italian EU-harmonised consumer prices (HICP) rose 0.1% month-on-month in May and the annual inflation rate decelerated to 1.9%, preliminary figures by official statistics agency ISTAT showed on Friday. A Reuters survey of 21 analysts had pointed to a flat month-on-month reading and a 1.9% year-on-year rise. Core inflation (net of fresh food and energy) was running at 2.1% year-on-year on the HICP index in May, like in April. ISTAT also reported that the main domestic price index (NIC), was flat on the month and down to 1.7% annually in May, following a 1.9% annual rate the previous month. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Inflation in Spain falls to 1.9% in May in line with ECB targets
Inflation in Spain fell in May to 1.9%, but the underlying inflation index remains above the price stability level, at 2.1%, according to data published on Friday by the National Statistics Institute (INE). The Consumer Price Index (CPI) reached its lowest value since last October, when it stood at 1.8%. The European Central Bank considers that the best way to maintain price stability in the euro area is to have an inflation target of 2% in the medium term, according to the Bank of Spain. Therefore, the general index achieves a certain stability after the high percentages registered during the last year. However, the underlying index, which eliminates the effect of the most volatile prices, is above 2%. However, the Harmonised Index of Consumer Prices (HICP) fell by 0.3 percentage points year-on-year in May to 1.9%, and recorded a monthly decrease of 0.1%. With the slowdown in the year-on-year CPI recorded in May, inflation has now seen three consecutive months of declines in its annual rate. According to INE, this moderation, which places the CPI at 1.9%, is mainly due to the drop in leisure and culture prices, lower prices in the transport sector, and a smaller increase in electricity tariffs compared with the same month in 2024. The Ministry of Economy, Trade and Enterprise stressed that the favourable evolution of services related to the tourism sector, along with the positive performance of electricity prices, played an important part in this inflation decline. With the decrease in May, the core inflation rate returns to a path of moderation following a rise of 0.4 percentage points in April. Sign in to access your portfolio
Euronews
3 days ago
- Business
- Euronews
Inflation in Spain falls to 1.9% in May in line with ECB targets
Inflation in Spain fell in May to 1.9%, but the underlying inflation index remains above the price stability level, at 2.1%, according to data published on Friday by the National Statistics Institute (INE). The Consumer Price Index (CPI) reached its lowest value since last October, when it stood at 1.8%. The European Central Bank considers that the best way to maintain price stability in the euro area is to have an inflation target of 2% in the medium term, according to the Bank of Spain. Therefore, the general index achieves a certain stability after the high percentages registered during the last year. However, the underlying index, which eliminates the effect of the most volatile prices, is above 2%. However, the Harmonised Index of Consumer Prices (HICP) fell by 0.3 percentage points year-on-year in May to 1.9%, and recorded a monthly decrease of 0.1%. With the slowdown in the year-on-year CPI recorded in May, inflation has now seen three consecutive months of declines in its annual rate. According to INE, this moderation, which places the CPI at 1.9%, is mainly due to the drop in leisure and culture prices, lower prices in the transport sector, and a smaller increase in electricity tariffs compared with the same month in 2024. The Ministry of Economy, Trade and Enterprise stressed that the favourable evolution of services related to the tourism sector, along with the positive performance of electricity prices, played an important part in this inflation decline. With the decrease in May, the core inflation rate returns to a path of moderation following a rise of 0.4 percentage points in April. A Federal appeals court temporarily blocked a ruling from the Court of International Trade that barred most of the Trump administration's sweeping tariffs on global trading partners. The legal development reignited uncertainty, sparking renewed selloffs in US stock markets and dragged the US dollar sharply lower from its intraday high. The decision provides the White House with additional time to defend the legality of the president's efforts to reshape global trade relations. Federal officials signalled that the same level of import levies could be reintroduced under alternative legal authorities, although enacting tariffs via other sections of the Trade Act could take several months. 'I can assure the American people that the Trump tariff agenda is alive, well, healthy and will be implemented to protect you, to save your jobs and your factories, and to stop shipping foreign wealth — our wealth — into foreign hands,' Peter Navarro, Trump's top trade adviser, said on Thursday. Trump had invoked the International Emergency Economic Powers Act (IEEPA) to impose the so-called reciprocal tariffs announced in early April. However, on Wednesday, the trade court ruled that the president does not have the authority to impose such broad levies under the IEEPA. 'America cannot function if President Trump — or any other president, for that matter — has their sensitive diplomatic or trade negotiations railroaded by activist judges,' said White House Press Secretary Karoline Leavitt. 'Ultimately, the Supreme Court must put an end to this for the sake of our Constitution and our country.' The US stock markets initially jumped on the original court ruling, alongside positive quarterly earnings results from Nvidia. However, major indices gave up early gains despite a higher close on Thursday. During Friday's Asian session, US stock futures continued to fall as risk-off sentiment prevailed. As of 4 am CEST, Dow Jones Industrial Average futures were down 0.08%, while the S&P 500 and Nasdaq 100 futures both declined 0.26%. European markets are also expected to open lower, according to futures pricing. The Euro Stoxx 50 was down 0.19%, and Germany's DAX slipped 0.15%. German equities extended losses for a second consecutive day on Thursday, following a record high on Tuesday. Investors will be closely watching the progress of US-EU trade talks, though the legal battle surrounding the Trump administration's tariffs is adding complexity to the outlook. Asian equity markets also traded mostly lower on Friday. Hong Kong's Hang Seng Index fell 1.4%, Japan's Nikkei 225 lost 1.39%, and South Korea's Kospi dropped 0.61%. Australia's ASX 200 was flat as of 3:10 am CEST. The latest court developments have once again dented investor confidence in US assets, particularly the dollar. Yields on US government bonds initially jumped to 4.5% but later pulled back to 4.42% as Treasury prices came under renewed pressure. Meanwhile, haven assets have rallied. Gold jumped, and the euro, the Swiss franc, and the Japanese yen all strengthened significantly. The euro rebounded sharply from an intraday low against the dollar on Thursday after the tariff ruling was paused. The EUR/USD pair fell as low as 1.1210 before surging to 1.1353 as of 3:11 am CEST on Friday. Gold futures also swung higher, climbing to $3,321 per ounce from an intraday low of $3,269 on Thursday.
