That's higher than expected results, as economists expected the rate to begin to slow down.
It puts more pressure on the European Central Bank to respond by tightening interest rates, amid investors telling the Financial Times it could happen twice.
Head of Communications with Bonkers dot ie, Daragh Cassidy, believes if there is an increase, it will be small:
"Be at the target of 2% for inflation, it's now at a record high of 5.1%. So it's over double where it should be. So that's obviously making things a bit uncomfortable for them. However, any increase in rates I think is still likely to be very small and very gradual."
