Sinn Féin’s spokesman on finance Pearse Doherty has said the EU’s fiscal rules need to be replaced by “fiscal standards” which would allow for investment in areas like housing as well as the environment. The fiscal rules were suspended during the pandemic but are due to be reintroduced next year. There is currently a broad…
Tag Archives: Inflation
Annual inflation eased to 5% in January from a 20-year high of 5.5% in December after a 0.4% month on month fall marked the first monthly drop in consumer prices for over a year, the latest figures from the Central Statistics Office show today. Prices have been rising on an annual basis since April 2021,…
European Central Bank President Christine Lagarde appeared to downplay inflation concerns today, arguing that price pressures could still subside before becoming entrenched and high energy costs would be a drag on prices further out. Pointing to mounting inflation risks, the ECB opened the door last week to an interest rate hike later in 2022 and…
Taoiseach Micheál Martin has said the Government will look to see what it can do to alleviate pressure quickly on those who are hardest hit by inflation. He said this is “not going to be a mini-budget” but it will look at a range of charges from health to transport to see what it can…
The Government faces a difficult decision on how to tackle the rising cost of living for poorer families while balancing environmental considerations, according to Professor of Economics at University of Limerick, Stephen Kinsella. High inflation is being driven by rising energy costs, and should the Government choose to subsidise fuel, it will have a negative…
Taoiseach Micheál Martin and Tánaiste Leo Varadkar have both signalled that the Government is going to take further actions to counter the rising cost of living. Opposition parties have regularly accused the Coalition of not doing enough to help off-set a spike in inflation. Addressing the Fianna Fáil parliamentary party last night, Mr Martin said…
The Employment Wage Subsidy Scheme rates will be cut from today, but not for those companies impacted by Covid restrictions introduced in December. The subsidy rates will fall from a range of €203 – €350 a week to €151.50 – €203 a week depending on an employee’s salary. According to provisional statistics published by Revenue…
Half of firms are planning to raise basic pay for employees by an average of 4% this year, according to a survey of businesses and consumers by Bank of Ireland. A similar proportion of workers are expecting a pay rise of on average 3%, the bank’s Economic Pulse for January shows. It comes against the…
The Governor of the Central Bank has said “the prospects for Ireland’s economy appear bright” but warned that the risks to inflation in Ireland remain “on the upside”. Gabriel Makhlouf made his remarks at on online webinar hosted by the Institute of Directors. On inflation, the Central Bank Governor said it is expected to remain…
New figures from the Central Statistics Office show rising inflation has resulted in increases across a range of products, including bread rising by 5.3% while crisps increased by 7%. Overall food and non-alcoholic drinks are up 1.6% on an annual basis, with increases too in energy and fuel costs. The CSO says the annual rate…