The HICP figure feeds into Eurostat estimate of euro-zone inflation, which will be published on Friday. A prototype of the new Dart carriages, set to come into service in 2025, was unveiled by Iarnród Éireann on Wednesday. The HICP is a different measure of price growth to the CSO’s consumer price index, which put inflation in the Republic at 8.5 per cent in February, up from 7.8 per cent previously. The pace of monetary tightening from this point “will be entirely data-dependent,” Ms Lagarde said. Since last July Frankfurt has embarked on an aggressive path of monetary tightening which has seen interest rates go from zero to 3.5 per cent. Policymakers are concerned that falls in the headline rate of price growth are not being matched by falls in core or underlying inflation, which strips out energy, suggesting higher prices in some areas are proving stickier than expected.Īs the European Central Bank raised interest rates by a further 0.5 per cent earlier this month to deal with inflation, the bank’s chief Christine Lagarde said: “We are seeing some slight improvement in certain areas, but frankly, not a lot.” This was up from 5.8 per cent the previous month. The HICP excluding energy is estimated to have increased by 6.3 per cent since March 2022.

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