Irish inflation remains at three year low as ECB gears up for more rate cuts

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Irish inflation remains at three year low as ECB gears up for more rate cuts
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Food prices have risen 0.3% in November, and by 1.7% over last 12 months

Food prices have risen by 0.3 per cent in November, according to the latest flash estimate for the harmonised index of consumer prices. Photograph: iStock

This was up from a rate of 0.1 per cent the previous month. Despite the rise, the headline rate remained close a three-year low. The latest HICP indicated that while energy prices are estimated to have grown 0.2 per cent in November, they were down 7.7 per cent year-on-year. Food prices were estimated to have risen by 0.3 per cent in November and to have climbed by 1.7 per cent in the past 12 months.Samsung Galaxy Ring review: Subtle health tracking that actually works

The Irish rate will feed into wider euro zone inflation data due on Friday. The headline rate for the euro zone was 2 per cent in October. Euro-wide figures are expected to pave the way for further European Central Bank interest rate cuts in the coming months.

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