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Irish finance minister sees slight moderation in inflation this year

Reuters
·1-min read
Finance Minister of Ireland and President of Eurogroup Paschal Donohoe attends a news conference in Helsinki

DUBLIN (Reuters) - Ireland's finance minister said he still believes it is likely that some inflation pressures will moderate slightly as the year progresses to bring the average rate towards his department forecast of 6.2% for 2022 as a whole.

Annual inflation in Ireland accelerated to 7.8% in May, its highest level since 1984, data showed earlier on Thursday.

"We still think it is likely as we move through the year that some of the inflation rate pressure we're seeing will begin to moderate a bit," Paschal Donohoe told a news conference.

(Reporting by Padraic Halpin; Editing by Andrew Heavens)