Consultancy firm EY predicts inflation will average 3.3 percent, and may be as high as 4.5 percent next year.
The level of price growth was 5.3 percent in November, the highest monthly rate since 2001.
Last month, the head of the Central Bank said supply “bottlenecks” in international shipping, energy markets and the labour market would ease in the new year.
But EY economist, Professor Neil Gibson, says the Irish economy may no longer be able to rely on the factors that once kept prices low.
