Demand for gas was up by almost a fifth in November as temperatures plummeted around the country. The usage of gas for domestic purposes was up 16% on the previous month and was up 7% on the same month last year. It comes as consumers are being hit with higher energy costs as inflation impacts…
Tag Archives: Inflation
Ministers are expected today to sign-off on a plan to assist households struggling with the rising cost of electricity bills. It is believed that a once-off €100 credit will be recommended by the Green Party leader and Minister for the Environment Eamon Ryan at a Cabinet meeting this morning. It is anticipated the measure will…
The annual rate of inflation rose to 5.3% in November, its highest level since June 2001. The latest figures from the Central Statistics Office show the biggest increases were in the cost of transport, electricity and gas bills. This period of intense inflation is not over yet, even if the pace of increase has slowed…
The deficit in 2021 now looks set to fall to as low as €5 billion to €6 billion – only 1-1.5% of GDP – according to an economist. Conall MacCoille, chief economist at Davy, said that would amount to one of the smallest deficits in the OECD. His outlook is based on the latest exchequer…
Economists differ at the moment over whether the pace of price increases that we are seeing is temporary, or ‘transient’ as they like to put it. Some argue that the rate at which prices are going up is being influenced by the reopening of the economy as the pandemic restrictions are lifted and what we…
74% of consumers are concerned about rising prices for everyday items, according to Deloitte Ireland’s latest consumer tracker survey. Over half of respondents said they believe the cost of groceries have gone up over the last month, while 46% think prices in restaurants have risen. Overall, the survey reveals that consumers’ financial concerns have increased…
Economy performing ahead of expectations – Varadkar Leo Varadkar, Tánaiste and Minister for Enterprise, is optimistic about the future of Ireland’s economy. We might get back on sustainable footing without increasing taxation or cutting on spending. Varadkar says that the goal of the government is to cut taxes and increase welfare in a “prudent fashion.”…
The cost that comes with living in Ireland is experiencing an increase. The amount of houses available to buy does not satisfy the demand for it, electricity demand has increased over the years due to the need for technology and is putting strain on electricity output. This increase in demand is causing a rise in…
The euro zone economy may contract less this year than the European Central Bank had forecast and its recovery could also be quicker, the bank’s Survey of Professional Forecasters showed today. The quarterly survey sees the economy shrinking by 8.3% this year. This marked a downgrade from its May projection for a 5.5% drop but a…
The European Commission has said that Ireland’s GDP is projected to contract by 8.5% in 2020. The economy here is then expected to grow by 6.25% in 2021, on the back of the pent-up domestic demand release and the global post-crisis recovery. This compares with the Commission’s earlier forecast of a downturn of 7.9% for…