Annual inflation rises to 1.4% in December – CSO
Inflation in Ireland is beginning to rise again, according to the latest figures from the Central Statistics Office. The increase in the cost of living was 1.4% in the 12 months to December 2024, as measured by the CSO’s consumer price index. This marks a doubling of inflation from the 0.7% level recorded in September […]
New govt plans to cut VAT rate to 9% for parts of hospitality sector
The incoming government intends to cut the VAT rate to 9% for food-based hospitality, entertainment and hairdressing in the next budget. It is also understood the new programme for government will contain a commitment to continue work on enacting the Occupied Territories Bill. The move follows commitments in the document, which will be published later […]
SEAI pays record €616m in grants for energy upgrades and projects in 2024
The Sustainable Energy Authority of Ireland (SEAI) has said it disbursed a record €616 million in grants and supports for energy upgrades and clean energy projects last year. This represented a 13% increase in activity by the national energy authority in 2024. Two thirds of the funding, or €420 million, was allocated to 54,000 home […]
Land sales across Ireland topped €900m last year
Land sales worth just over €900m were completed across the country last year, new figures show. This is nearly three times the total spend recorded in 2023, but still slightly below the ten-year annual average. The figures from CBRE Ireland show that over €415 million of transactions were recorded between October and December 2024. This […]
Grocery sales hit €1.4 billion over record-breaking Christmas
New figures show that, as expected, Monday 23 December was the most popular shopping day of 2024, with consumers spending €107m on that one day alone, an increase of €11.9m on the busiest trading day in 2023. The latest figures from Kantar show that take-home value sales over the four weeks to 29 December increased […]
Ireland to be exempt from new US rules on AI chip exports
The US government said it would further restrict artificial intelligence chip and technology exports, divvying up the world to keep advanced computing power in the US and among its allies while finding more ways to block China’s access. But Ireland and a number of other countries including the UK and the Netherlands will essentially be […]
40% drop in public liability claims in past four years
There has been a 40% drop in public liability claims between 2019 and 2023, the body which resolves personal injury claims has said. The development follows the introduction of new guidelines in 2021 recommending lower awards for many injuries and new anti-fraud measures. Close to half of all trip, slip and fall accidents occurred on […]
Plans on track for partial reopening of Holyhead Port – Taoiseach
Taoiseach Simon Harris has said that plans remain on track for the partial reopening of Holyhead Port next Thursday. Mr Harris spoke by phone with Welsh First Minister Eluned Morgan earlier. Speaking to media afterwards, Mr Harris said that while Holyhead Port will have to make adjustments to its schedule, it hopes to operate the […]
Costs a concern for food and drink manufacturing firms
Irish food and drink makers feel “broadly positive” about current economic conditions, but the mood is slightly less positive than other industries, and likely to turn more negative in the months ahead. That is according to Food Drink Ireland, which is part of business group Ibec. Food Drink Ireland’s latest report found that 58% of […]
China exports accelerate amid trade tensions, imports surprise
China’s exports gained momentum in December, with imports also showing recovery, though strength at the year-end was in part fuelled by factories rushing inventory overseas as they braced for heightened trade risks under a Trump presidency. Exports have been a vital growth engine for the $18 trillion economy, which is still burdened by a prolonged […]
Grid constraints impact share of electricity supplied by wind
The share of electricity in Ireland supplied by wind fell during 2024 due to grid constraints, an energy company has said. Wind Energy Ireland said that despite wind supplying nearly a third of all electricity to the island of Ireland last year, the share of electricity provided by wind was down by 3% compared to […]
First-time buyer mortgage approvals hit record highs in November
New figures from Banking and Payments Federation Ireland (BPFI) show that first-time buyer mortgage approvals hit a record high last November. BPFI said that first-time buyer volumes rose to 31,049 in the 12 months ending November 2024, while the value of these approvals was almost €9.5 billion. A total of 4,400 mortgages were approved in […]
Corporate insolvencies reach highest level since 2016
875 corporate insolvencies were recorded last year – the highest number since 2016. New figures from Deloitte show that SMEs continue to be the worst affected. The services sector recorded the highest number of insolvencies, followed by hospitality and retail. There was a significant increase in the retail and hospitality sectors, up 64% and 48%. […]
Stay-at-home parent role valued at annual salary of €57k – study
The estimated annual salary of a stay-at-home parent has been calculated to be €57,140, according to new research. The analysis was carried out by pension and life insurance provider Royal London Ireland. The salary figure for a stay-at-home parent is up from an estimated €54,590 in 2023 and €40,560 in 2015, when the company first […]
Unemployment rate rises to 4.2% in December – CSO
New figures from the Central Statistics Office show that the country’s unemployment rate rose to 4.2% in December, from 4.1% a month earlier. The CSO said that on an annual basis, the unemployment rate of 4.2% is down from 4.5% in December 2023. Today’s figures show that the monthly jobless rate for men in December […]
Homes being sold for average of 9% above asking price, report shows
First-time buyers are taking on more debt in proportion to their incomes than purchasers in the UK for the first time since the Celtic Tiger, according to a report by property website MyHome.ie in association with Bank of Ireland. The average mortgage loan for a house purchase has also exceeded €300,000 for the first time […]
Second hand home prices rose by 8.4% last year
The average price of a second hand home rose by 8.4% last year, almost double the rate of growth witnessed in 2023, the latest residential market review and outlook from property advisors DNG shows. The latest DNG National Price Gauge (NPG) shows the annual rate of price growth nationwide strengthened in the second half of […]
Euro zone inflation jumps in December on higher energy costs
Euro zone inflation accelerated in December, an unwelcome but anticipated blip that is unlikely to derail further interest rate cuts from the European Central Bank. Inflation in the 20 nations sharing the euro picked up to 2.4% last month from 2.2% in November, Eurostat said today, in line with expectations in a Reuters poll of […]