Energy prices rose by 11.1 per cent last month and are up by 12.3 per cent over the 12 months to March. Photograph: Martin Divisek / EPAHeadline inflation in the Irish economy accelerated sharply in March as war in Iran sent energy prices spiralling. The latest Harmonised Index of Consumer Prices (HICP) indicated that prices rose at an annualised rate of 3.6 per cent in March, up from a rate of 2.5 per cent in February. The jump was driven by energy prices, which rose by 11.1 per cent in the month and were up by 12.3 per cent over the 12 months to March. The head of the European Central Bank (ECB) warned last week the bank stood ready to increase interest rates even if an expected jump in euro zone inflation proves temporary.

Source: The Irish Times March 30, 2026 12:09 UTC