Food prices in Ireland have reached their highest level in two years, with inflation currently at 6.5%, according to the latest figures from Worldpanel by Numerator. This marks the first time food inflation has increased this significantly since December 2023. The price surge is attributed to several factors including the start of the new academic … Read more
In a twist for households, the Central Statistics Office’s latest survey reveals a sobering reality: while the median household disposable income saw a seemingly positive 5.8% rise to €55,149 last year, adjusting for inflation paints a different picture. The real figure, hovering just above €50,000, marks a troubling drop of almost 2% compared to the … Read more
In a significant economic development, the rate of inflation has dropped below 5%, marking the first time in over two years. According to data released by the Central Statistics Office (CSO), prices rose by 3.9% in the year leading up to November, a notable decrease from the 5.1% reported in the 12 months to October. … Read more
Inflation in grocery prices has surged to 8.6% in the past three months, outpacing the broader economy, according to data from Kantar. The cost of a Christmas dinner for four has risen by over 3%, adding to the financial strain on households during the holiday season. Despite an uptick in supermarket visits in November, compared … Read more
The retail giant Tesco is all set to slash the prices of over 700 items in-store and online with an average price decrease of 10 per cent. This includes a wide range of Tesco’s own-brand products and brands – from grocery staples to household and health and beauty products. The store is cutting prices in an effort … Read more
Inflation decreased to 6.6% in May from 7.2% in April, marking the 12th consecutive month where the annual increase in consumer prices exceeded 5%, according to the most recent Central Statistics Office (CSO) data. Annual inflation has now dropped each of the last three months after rising to 8.5% in February. While prices for services … Read more
The price of petrol and diesel is set to rise again from midnight tonight. Excise taxes levied by the government, which were reduced as a result of the cost-of-living problem, will be gradually restored. Petrol prices will rise by six cent per litre, while diesel will go up by five cent. Agricultural diesel will also … Read more
Greedflation is the new word for when companies exploit inflation as a justification to increase their profit margins. Especially in light of the fact that customers are facing a problem caused by cost of living, companies view it as cynical. Also, the European Central Bank has issued a warning, noting that it is “closely” monitoring … Read more
Irish employees suffered a 3.9% pay loss last year as a result of wages lagged behind inflation, according to a new Oxfam research released in recognition of International Employees’ Day. The charity claims that this equates to a real revenue loss of €2,107 and 8.3 days of unpaid work. According to Oxfam, Irish employees suffered a … Read more
The Central Statistics Office (CSO)’s most recent estimates indicate that Ireland’s annual rate of inflation dropped to 6.3% in April. According to the EU Harmonised Index of Consumer Prices (HICP), which allows for comparisons with nations in the Eurozone, the figure is down from 7% in the 12 months leading up to March. The HICP … Read more
A new study reveals that over half of workers have recently requested or are now requesting compensation increases from their employers. According to a poll conducted by the professional accounting group ACCA, 66% of employees have requested assistance from their employers to deal with the cost-of-living problem. 73% of the companies polled indicated they were … Read more
The Central Statistics Office released its most recent data today, showing that the annual rate of inflation decreased to 7.7% in March from 8.5% in February. This is the lowest level in 11 months.. The most significant increases in the year were seen in Housing, Water, Electricity, Gas & Other Fuels which was up 20.8% and Food … Read more
Irish mortgage interest rates remain the third lowest in the Eurozone, despite the European Central Bank (ECB) beginning to raise them. The most recent rate increase, which brought the rate to 2.5% last Thursday, was one of many that the ECB has announced as part of its efforts to combat the inflation crisis. These increases … Read more
An initial estimate by the Central Statistics Office indicated that the annual rate of inflation slowed to 7.7% in January. When compared to December, the annual rate was 8.2%. The Harmonised Index of Consumer Prices (HICP), which enables comparisons across the EU, serves as a measure of inflation. The estimate of inflation for all EU … Read more
In Ireland, visits to stores increased by 7% and grocery sales rose by 10% in the four weeks leading up to Christmas from the same time in 2021, according to the latest figures by research group Kantar. With a rate of 15.4%, grocery inflation in Ireland was higher than even the high levels seen in … Read more