Madhumitha Jaganmohan
Research expert covering climate and environmental sustainability
Get in touch with us nowThe inflation rates of energy commodity prices in Ireland increased significantly in 2022. Liquid fuels saw the steepest rise, with the inflation rate standing at 126.6 percent in March 2022. Gas also saw an increase during late 2022, with inflation reaching its peak in October 2022 at 93.4 percent. These increases in inflation were driven further by Russia's invasion of Ukraine, which has caused uncertainty over Europe's security of gas supply, as well as intense energy price volatility. By the end of 2023 however, the energy commodity prices had decreased compared to the previous year.
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