Inflation is clearly on the wane in Ireland, in line with the trend in most other economies.
There have also been the first signs of an easing in core inflation recently, with the annual rate in the Euro area dropping for the second consecutive month in May to 6.9%, down from its recent peak of 7.5% in March.
Thereafter, the pace of decline in inflation is likely to slow considerably, but the signs are still that the headline rate will have moved significantly lower by the summer of 2024.
