Housing starts slow by 31% in October from last year
The number of new housing starts continued to slow last month, according to new figures from the Department of Housing. Commencement notices show 1,841 units began construction in October. That is down on the 2,211 figure for September and down 31% on October last year. The rolling 12-month commencement figure is now 26,608, which is […]
Energy costs the main challenge for manufacturing
There has been a marked deterioration in the outlook for the manufacturing sector over the coming months, a major survey of industry leaders conducted on behalf of Ibec concludes. Energy costs followed by supply chain issues and labour shortages were identified as the main challenges facing the industry. The proportion of survey respondents opting for […]
Gardaí warn shoppers to beware of Black Friday scams
The call comes as it is predicted as much as €26 million will be spent on shopping in upcoming Black Friday sales. New figures also show more than €45 million was stolen through frauds and scams in the second half of last year. Speaking to RTÉ’s Morning Ireland, Detective Chief Superintendent Patrick Lordan, of the […]
Lower-income households experiencing greater inflation
Inflation continues to be greater for households on lower incomes, rural households and those headed by people over 65. This is largely because these households spend a greater proportion of their incomes on utilities, fuels and transport costs. It is these areas where prices have gone up the most. According to the latest Estimated Inflation […]
Revenue warns of potential extra costs when buying goods online
Revenue has warned shoppers to check whether the advertised price of online goods includes all tax and duty costs due before deciding to buy. It said where the price of the goods advertised seems attractively low, this may be because tax and duty costs are not reflected in the price advertised. Additional charges, including VAT […]
Wind was biggest single electricity source in October
High winds for weeks meant 45% of the country’s electricity last month came from wind, setting a new record. This meant wind was the biggest single contributor to Ireland’s power needs during the month. However, the unpredictable nature of the source was exposed with wind generating as much as three quarters of our needs on […]
Euro zone inflation revised marginally lower, but still at record high
Eurostat confirmed that inflation in the euro zone rose by 1.5% on a monthly basis to give a 10.6% annual increase This marked a revision from the 10.7% annual reading reported previously. Eurostat confirmed that inflation in the euro zone rose by 1.5% on a monthly basis to give a 10.6% annual increase This marked […]
Toll charges rising to ‘maximum level’ from January
Toll charges on most toll roads around the country are to increase to their “maximum level” from 1 January 2023. The price hikes are linked to the current rate of inflation, which has increased by 8.6% between August 2021 and August 2022. The tolls cannot be increased beyond this rate. There are 10 toll roads […]
Property price growth slows to 10.8% in September – CSO
New figures from the Central Statistics Office show that annual property price growth slowed to a 14-month low in September. The CSO said that residential property prices eased to 10.8% in September from 11.9% in August and down from a 2022 peak of 15.1% in February. Prices in Dublin rose by 9.4% and prices outside […]
European car sales grow in October – ACEA
European new car registrations jumped in October, data from the region’s carmaker association showed today. The number of new vehicles registered in the European Union, Britain and the European Free Trade Association (EFTA) grew by 14.1% to 910,753 units, the European Automobile Manufacturers Association (ACEA) said. In the EU, the rise was 12.2%. Article Source […]
Govt to keep cost-of-living payments under review – McGrath
The Government will keep the payments to help people deal with the escalating cost of living under review, Minister for Public Expenditure Michael McGrath has said. “We will consider the circumstances that we face as we go through next year. We are seeing the economic winds change there is a certain amount uncertainty,” he said […]
Business growth slows amid rising costs
While businesses are still expanding, new data from Intertrade Ireland shows that the pace of growth is slowing as companies feel the pressure of rising prices. The latest Intertrade Ireland business monitor reveals that 21% of firms surveyed said their business was in decline in the third quarter of this year, compared with 18% during […]
Battery storage could cut electricity bills by €35m this winter
Operators of battery storage power plants say they could cut up to €35m off energy bills on the island of Ireland this winter if they were allowed to sell electricity onto the wholesale market. At the moment the energy storage plants are kept in reserve to provide emergency back up for the power grid. The […]
Profits at motor insurers rose to record €176m in 2021
Motor insurers here saw their combined operating profits increase to a record level for the fifth straight year in a row last year, as lower levels of activity on the roads due to the pandemic led to fewer claims. Operating profits in 2021 climbed to €176m, up €5m on the previous year, new data from […]
40% of consumers plan to make Black Friday purchase
Just under 40% of consumers plan to make a purchase in the Black Friday sales, according to new research from the Competition and Consumer Protection Commission. On average, these consumers are set to spend €400. The findings show that over 80% plan on researching the advertised discount of the item before buying, with those over […]
Grocery inflation hits new high of 13.4% – Kantar
Grocery inflation rose to another record-breaking high of 13.4% in the last 12 weeks to October 30, new figures from Kantar show today. Kantar said that grocery sales for the 12 week period increased by 4.7% on the back of a 4.3% rise in shoppers returning to stores and an 8.7% increase in price per […]
90% of insurance reform actions done or ongoing – Govt
The Government will outline progress made on insurance reform later today, when it publishes its third Insurance Reform Implementation Report. It states that around 90% of actions in its Action Plan for Insurance Reform have been completed or are ongoing. Sinn Féin however has criticised the plan, saying that premiums for businesses and voluntary organisations […]
Tourism businesses called on to drive climate action
The Minister for Tourism will call on businesses in the sector to engage with sustainability targets for the sector, as it seeks to cut emissions as part of the Climate Action Plan. Catherine Martin will address over 200 tourism businesses at a climate action conference in Croke Park this morning, organised by Fáilte Ireland. The […]