New electric vehicles 13% more expensive than last year
New data from DoneDeal shows the average price of a brand new electric vehicle (EV) now stands at €64,755, 13% higher than the same time last year. Despite these price hikes, demand for new EVs has jumped 35% this year. The report states that the decision by the Government to reduce the EV grant from […]
Consumers more frugal due to rising costs – global survey
A new survey of global consumer sentiment shows people everywhere adjusting to higher living costs by taking action regarding their spending behaviour. The 12th EY Future Consumer Index is based on the views of 21,000 people across 27 countries and finds consumers are taking action to reduce spending in their lives. 94% of respondents globally […]
Wholesale electricity prices down over 40% in April
Prices paid for raw materials by manufacturers fell in April for the first time since November 2021, new Central Statistics Office figures show today. The Wholesale Price Index fell by 1% compared to March and by 0.7% compared to April 2022. Producer prices for exported goods fell by 1% in the month and are down […]
Almost a quarter of Irish workers are fully remote – survey
Almost a quarter of Irish workers are fully remote, according to new research from Leitrim County Council. The study shows that 61% of millennials (25-35-year-olds) are considering a move to another part of Ireland. Over half of remote workers reported a very positive impact on their work-life balance and 85% of respondents said remote work […]
Ireland’s credit rating upgraded to AA by S&P
Ireland’s credit rating has been upgraded by the ratings agency, Standard & Poor’s. Improved ratings by agencies such as S&P help Ireland borrow more easily and at lower rates on international debt markets. Last month, Ireland’s rating was also upgraded by another agency, Moody’s. This is the first upgrade from S&P since 2019 and brings […]
ECB banking on a digital euro
The European Central Bank is investigating introducing a digital currency, to keep pace with a rapidly evolving digital economy. It would be a major change in the way that the central bank issues money, but the ECB says it is considering the move in response to the increasing demand for safe and trusted electronic payments. […]
Two thirds of SMEs feel Govt doesn’t understand them
Two thirds of small and medium sized businesses do not believe that the Government understands them, new research has found. The study also shows that four out of every five businesses are currently impacted in a big of very big way by energy prices. The survey of 300 firms was carried out by RED Research […]
Number of house commencements down 20% in April
The number of new homes which construction started on fell 20% in April compared to the previous month, according to new data released by the Department of Housing. However despite this drop, the number of residential units commenced last month was up almost 10% on the same month last year. The number of residential commencements […]
Drivers interested in idea of long-term car insurance
Almost half of drivers would support the introduction of some sort of long-term motor insurance, a new survey has found. More than one in every four respondents said they would be interested in hearing more about the concept of car insurance that lasts for at least three years or more. A quarter of those who […]
Hospitality spend jumps in April, overall spend flat – AIB data show
Spending in hotels, pubs and restaurants increased last month, according to new debit and credit card data from AIB. The average daily spend in hotels jumped by 7% in April, while spend in pubs and off licenses was up 6%, and spend in restaurants increased by 4%. This boost across the hospitality sector is in […]
5 tips for clearing credit card debt ahead of the summer
With summer round the corner, thoughts of the two week vacation, parties, barbeques, open air concerts and fun are the order of the day. For many people, using a credit card to its limit or borrowing from a credit union or bank is now the norm for most families as we continue to be challenged […]
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 […]