Property price growth cools further to 3.9% in March – CSO
Prices in the residential property market continued to cool in March, according to the latest figures from the Central Statistics Office. The annual rate of residential property prices nationally slowed to 3.9% in March, compared to an annual rate of 5.1% in February. A year ago, in March 2022, prices were increasing at an annual […]
European car sales rise by 16% in April – ACEA
The number of new vehicles registered in April in the European Union, Britain and the European Free Trade Association (EFTA) grew by 16.1% to 964,932 units The number of new vehicles registered in April in the European Union, Britain and the European Free Trade Association (EFTA) grew by 16.1% to 964,932 units European new car […]
Euro zone first quarter GDP growth confirmed at 0.1%
Euro zone economic growth was 0.1% quarter-on-quarter in the first three months of the year, the EU’s statistics agency confirmed today, with rising employment and a sharp increase in exports that boosted the euro zone trade surplus. Eurostat also confirmed its earlier estimate that gross domestic product in the 20 countries sharing the euro rose […]
Central banks have lost a degree of trust – Makhlouf
Central banks around the world have lost a degree of trust and need to rebuild it by explaining their decision making to a wider audience and not just financial markets, Central Bank Governor Gabriel Makhlouf said. Gabriel Makhlouf is also a governing council member of the European Central Bank. Major central banks have been aggressively […]
One in three can’t afford to retrofit their homes
One in three homeowners cannot afford to make their properties more energy-efficient, according to a survey by property advisor, Savills Ireland. It also found that most homeowners do not know the Building Energy Rating or BER of their home. According to Savills, the cost of retrofitting a home can easily run into tens of thousands […]
Fuel prices fall again in May ahead of June excise duty increase – AA Ireland
Fuel prices have fallen again slightly but are set to increase by six cents per litre for petrol and five cents per litre for diesel on June 1. The latest AA Ireland fuel prices survey for May shows the average petrol price across the state is €1.57, the lowest since September 2021. Diesel prices saw […]
Climate mandate aims to phase out parking for some workers
Minister for the Environment and Climate Eamon Ryan will request Cabinet approval today for a plan to ensure public sector bodies lead by example on climate, and help reduce Ireland’s emissions by 51% by the year 2030. What is called the “Public Sector Climate Action Mandate 2023” envisages the phasing out of the use of […]
Construction sector activity shrinks for seventh month in a row
Activity in the construction sector contracted more sharply in April than in the previous month as the industry continues to struggle. The BNP Paribas Real Estate Ireland Construction PMI found a slowdown in new orders, as well as in employment and input buying. It was the seventh successive reduction in total activity in the sector […]
Rate of rise in market rents slowed in first quarter – Daft.ie
The rate of increase in advertised rents slowed during the first three months of the year, rising just 1% compared to the previous quarter. Latest data from the property listings website Daft.ie shows average market rent stood at €1,750 per month during the period. The report’s author, economist Dr Ronan Lyons, said the upward pressure […]
EU failing to police how big tech uses data – ICCL
Marking five years since the introduction of the General Data Protection Regulation (GDPR), the Irish Council for Civil Liberties (ICCL) has accused the EU of being unable to police how big tech firms handle data. GDPR came into force in May 2018 imposing strict rules on how companies and organisations process data. Because many of […]
Younger people more likely to invest in cryptocurrency – BPFI
Generational differences in investment behaviour among consumers in Ireland has been highlighted in a survey by Banking & Payments Federation Ireland. It found that younger people more likely to invest in cryptocurrencies and invest online, and under 35s are more likely to seek information about investments through informal channels such social media or friends and […]
Inflation rate falls to 7.2% in April from 7.7% in March – CSO
New figures from the Central Statistics Office show that inflation fell to 7.2% in the 12 months to April, down from 7.7% in March. This marked its lowest level in a year. The CSO said the most significant increases in the year were seen in the costs of Housing, Water, Electricity, Gas and Other Fuels […]
Barriers remain for young people finding employment
The shortage of housing and a lack of transport options are among a range of barriers preventing young people from finding jobs and entering the labour market, a conference has heard today. The ESRI hosted a conference today on youth employment and highlighted other barriers such as substance use, homelessness, education, mental health and physical […]
FDI into Ireland grew by 21% last year
Foreign direct investment into Ireland jumped by 21% last year, according to a new analysis. The EY European Attractiveness Survey shows that 184 new and expansion projects were announced during the year, up from 152 the previous year. This puts Ireland in the top ten most attractive locations for investments across Europe, the report claims. […]
Govt not planning intervention on grocery prices – Tánaiste
The Government has no plans for any “legislative intervention” to reduce the cost of groceries, Tánaiste Micheál Martin has said. It comes after the Competition and Consumer Protection Commission (CPCC) warned the Government not to introduce price controls. The Taoiseach told the Dáil that the CPCC had cautioned strongly against the move in preliminary advice […]
TD calls for windfall tax for ‘profiteering’ supermarket chains
Supermarkets should be treated like energy companies and subject to a windfall tax if they are found to be profiteering, according to Labour’s finance spokesperson. Ged Nash said the Government is “flailing” in its efforts to force supermarkets to cut prices. His comments come after supermarket chains reduced prices on their own brand bread and […]
Govt to urge retailers over high cost of groceries, as inflation declines
Representatives of large supermarkets chains, smaller shops and the grocery industry are due to attend a meeting of the Retail Forum at the Department of Enterprise later today, to discuss the continued high cost of groceries despite a general decline in inflation. Retailers are expected to say that their costs remain high, and that price […]
Taoiseach ‘concerned’ as 23% in arrears on gas bills
The number of domestic gas customers falling into arrears has increased from 20% to 23% in the first quarter of 2023. However, the number of domestic electricity customers in arrears dropped from 11% to 9% over the same period. The number of domestic gas customers in arrears at the end of March stood at 160,399, […]