Grocery price inflation edges up in July after 15 months of falls
Grocery inflation in the 12 weeks to July 7 saw a marginal gain after falling for 15 months in a row, new figures from Kantar show today. Grocery inflation now stands at 2.6%, a small increase of 0.14 points over the last month but down 11.8 points compared to the same time last year. Kantar […]
Revenue fixes problems with online tax return form
Revenue has told accountants and self-assessed taxpayers that it has fixed problems with its online tax return form that were creating difficulties for those filing, but that it will be another week before others are resolved. Chartered Accountants Ireland (CAI) has told members that Revenue has notified it that an issue regarding the 3% USC […]
Job vacancies steadied in second quarter of year
The number of job vacancies remained unchanged in the second quarter of 2024, the first time in two years there was no quarterly decline in vacancies. Hiring platform IrishJobs has today published its Jobs Index for the last three months which it said showed signs of a positive trajectory in the jobs market amid steadier […]
ECB’s Villeroy says market expectations for future ECB rate cuts ‘reasonable’
Market expectations for the path of future interest rate cuts by the European Central Bank are “rather reasonable,” ECB policymaker Francois Villeroy de Galhau said in an interview on French radio BFM Business today. The ECB kept interest rates unchanged yesterday, as expected, but said September’s meeting was “wide open”. “Market expectations for the path […]
ISIF announces €229m of investments to accelerate delivery of new homes
The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA) has announced the completion of four investment commitments totalling €229m aimed at accelerating the delivery of new homes in Ireland. The new homes will be delivered for a mix of owner-occupiers, renters, students and people who need social housing. The four […]
ECB keeps rates unchanged, offers no guidance on next move
The European Central Bank kept interest rates unchanged as expected today, with its president Christine Lagarde saying a move in September was “wide open”. The ECB cut rates from record highs last month in a move that even some of its policymakers considered rushed after progress on lowering inflation to its 2% target stalled. With […]
Over one million domestic holidays taken last year, up 8%
The domestic tourism market grew strongly in 2023 with over 14.3 million trips taken by Irish holidaymakers which generated €3.1 billion for the economy. New figures from Fáilte Ireland show over one million extra domestic holidays were taken by Irish people in 2023, an annual increase of 8%. Related expenditure was also up by 6.5% […]
Flights delayed and airports impacted by tech outages
Airports and airlines across Europe are experiencing technical issues as media companies, banks and telecom firms around the world also reported that system outages were disrupting their operations. Amsterdam’s Schiphol Airport, one of Europe’s busiest hubs, is also being affected by a cyber outage, a spokesperson confirmed. “The outage has an impact on flights flying […]
EU new car sales rise 4.3% in June
New car sales in the European Union rose 4.3% in June to their highest since July 2019, driven by an uptick in major markets Italy, Germany, and Spain, while registrations of battery electric cars fell marginally, data from Europe’s auto industry body showed today. The European Automobile Manufacturers Association (ACEA) said a rise in registrations […]
Property prices rise for 9th month in a row in May – CSO
The annual rate of increase in the price of homes around the country picked up further in pace in May, new data from the Central Statistics Office shows. The CSO’s Residential Property Price Index rose by 8.2% in the 12 months to the end of May, compared to 7.9% in the year to the end […]
ECB not expected to cut interest rates any further today
The Governing Council of the European Central Bank (ECB) is expected to leave interest rates unchanged when it meets later today. The likely pause follows the decision to cut rates by 0.25% at the last meeting of the bank’s chiefs in June, the first reduction since 2019. That brought the key deposit rate back down […]
Rebound in Dublin office lettings, but vacancy still rising
There has been a strong rebound in Dublin office lettings, but a surge in supply in driving vacancy rates higher. New data from BNP Paribas Real Estate Ireland shows that 86,250 sq m of office accommodation was taken-up between April and June. This is the highest figure for two and a half years, and surpasses […]
Just 15% of Irish firms ‘fully compliant’ with GDPR
Just 15% of businesses here say they are fully compliant with the European Union’s General Data Protection Regulation (GDPR) rules. A survey by Ipsos B&A, conducted on behalf of Forvis Mazars and McCann Fitzgerald, found that 58% of firms deemed themselves to be ‘materially compliant’, while 25% were ‘somewhat compliant’. That is despite more companies […]
IMF sees steady global growth, warns of slowing disinflation
The global economy is set for modest growth over the next two years amid cooling activity in the US, a bottoming-out in Europe and stronger consumption and exports for China, but risks to the path abound, the International Monetary Fund said today. The IMF warned in an update to its World Economic Outlook (WEO) that […]
Irish firms more upbeat than euro zone counterparts
Almost three quarters of Irish medium-sized companies are predicting a positive future, the latest International Business Report from Grant Thornton reveals, better than the euro zone average. The Grant Thornton survey, which looks at the attitudes of 10,000 mid-market businesses across 28 countries, shows that 73% of Irish medium-sized companies surveyed are predicting a positive […]
Regulator overseeing building construction to be set up
The Government is to establish a new regulator to oversee the construction of buildings. The Buildings Standards Regulatory Authority will have powers of inspection, enforcement and will have a range of sanctions available to it. Minister for Housing Darragh O’Brien will seek Cabinet approval for the establishment of the new regulator. This step was recommended […]
Exports increase by 10% in first five months of 2024
New figures from the Central Statistics Office show that exports of goods increased by 10% to almost €91 billion in the first five months of this year, while imports decreased by 10% during the same time. The CSO said that chemicals and related products showed the largest changes in both cases. Exports of these goods […]
ECB to opt for summer pause after initial rate cut
The European Central Bank is expected to leave interest rates unchanged on Thursday, giving the euro zone time to digest last month’s first cut since 2019 as the inflation path remains unpredictable. ECB governors lowered the closely-watched deposit rate from a record 4% to 3.75% at their June meeting, following an unprecedented campaign of monetary […]