Value of services increased in June – CSO
The value of services increased by 2% in June when compared to the previous month, according to new figures from the Central Statistics Office (CSO). The biggest monthly increases were recorded in the value of information and communication services, and accommodation and food services. Decreases were recorded in transportation and storage, other service activities, and […]
Inflation remains at 38-year high of 9.1% in July – CSO
Consumer prices rose by 9.1% in the year to July, the same level of inflation as in June, the latest Central Statistics Office figures show today. This marked the first time since the start of the year that price growth has not accelerated on a year-on-year basis, the CSO figures show. Inflation is standing at […]
Car traffic volumes in July still below pre-Covid levels
Public transport journeys and car traffic volumes in July were still below pre-pandemic levels. New data from the Central Statistics Office (CSO) show that public transport journeys in the week beginning 25 July 2022 were 80% of the number taken in the first week of March 2020. Bus journeys in Dublin were 78% of pre-Covid […]
Goods exports rose 31% in record first half performance
The value of goods exported from Ireland rose by 31% in the first half of the year as the recovery from the pandemic gathered pace, new figures from the Central Statistics Office show. In total, goods worth €105bn were exported, up by €24bn on the same six-month period last year, marking a record first half […]
Mainstream Rewewable Power to create 100 jobs as it plans three offshore wind farms
Mainstream Renewable Power is to create 100 jobs in Dublin as it looks to develop three offshore wind energy projects in Ireland. The renewable energy firm is conducting early stage development activity in sites on the east, south-east and west coasts of Ireland, with “significant offshore wind energy developments” planned for each location. This would […]
Rising costs put consumers off sustainable goods – EY
More than two thirds of consumers are being put off buying sustainable goods due to the rising cost of living, according to a report by EY. Its survey of 18,000 global consumers found that nearly 80% were concerned about their finances, while more than 60% expected their living costs to rise further in the coming […]
Will the 30% income tax rate make it into Budget ’23?
Ireland has what is generally regarded to be quite a progressive personal taxation regime. In other words, those who earn most pay the most, while the taxation burden on those with average incomes and below is considered to be relatively low. Some would like to see an even greater contribution from the wealthiest, but there […]
78% of workers want to stay working from home – new research
Large levels of working from home (WfH) were induced by social distancing and viral control measures undertaken to mitigate the Covid-19 pandemic. Representing an unpredicted change in the way large amounts of people undertake their day to day work, it is expected that the legacy of this event will have wide-ranging and long-lasting results in […]
Ireland’s gas demand up 5% in July despite warm weather
Despite the warmer weather, Ireland’s gas demand in July was up 5% on the previous month, according to new figures from Gas Networks Ireland. When compared to the same month last year, when public health restrictions were in place, demand was up 10%. Gas demand increased by 95% in the air travel sector when compared […]
Home prices equal 2007 peak for first time in June – CSO
Residential property prices returned in June to levels not seen since the credit-fuelled peak of 2007, after rising 14.1% on an annual basis, new Central Statistics Office figures show today. The 14.1% year-on-year growth in June was down from 14.4% in May, cooling slightly for the third successive month, the CSO said. Today’s figures show […]
Households could save €13,000 by switching, changing habits
Households could save over €13,000 a year by switching service providers and changing their spending habits. That’s according to new figures from Irish personal finance company Moneysherpa. They show that despite inflation running at a 38 year high of 9.1%, consumers can save by shopping around. “Many are struggling to make ends meet,” said Mark […]
Gardaí warn of increased ransomware attacks on SMEs
The National Cyber Security Centre and the Garda National Cyber Crime Bureau are warning small and medium business owners of an increased threat of ransomware attacks. They also encouraged business owners to report the incidents to both the National Cyber Security Centre and gardaí. The National Cyber Security Centre and the Garda National Crime Bureau […]
Ireland’s competitiveness ‘under threat’, tourism body warns
One million people visited Ireland last month, as recovery across the tourism sector continued to gather pace. However, new figures from the Irish Tourism Industry Confederation (ITIC) show that visitor numbers were still down 11% in July compared to the same month in 2019 – before the pandemic. The data shows that so far this […]
30% income tax rate ‘technically possible’ – Donohoe
Minister for Finance Paschal Donohoe has said a 30% rate of income tax is “technically possible” and that Budget 2023 will contain an overall personal tax package that will aim to help with the rising cost of living. Minister Donohoe said the Government has confirmed that tax changes of over one-billion-euro will happen, and in […]
Irish Residential Properties REIT’s H1 revenues up 6.7%
The State’s largest property owner, Irish Residential Properties REIT, said its net rental income for the six months to the end of June rose by 4.1% on full occupancy levels. Irish Residential Properties REIT’s revenue grew by 6.7% to €42.1m for the six month period. It said that the revenue growth was driven by the […]
Department to publish Tax Strategy papers today
The Department of Finance will publish its Tax Strategy Group papers this morning, which will outline options for next month’s Budget. The papers are expected to cover a range of issues including income tax and environmental taxes. Every year the Department of Finance prepares briefing notes for the Minister of Finance on the potential options […]
Surge in scams expected as banks depart market
Victims of text message scams were left out of pocket to the tune of €1,700 on average during the first six months of this year, according to FraudSMART – a fraud awareness initiative led by the Banking and Payments Federation. Businesses suffered an average loss of €14,000 as a result of invoice fraud but in […]
Just 716 homes available to rent on 1 August – Daft
Advertised rents for homes were 12.6% higher between April and June than they were in the same three-month period last year. That is according to the latest rental report from property listings website, Daft.ie, which found that during the quarter the rate of increase reached its highest level since the index was launched 16 years […]