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The annual rate of inflation, as measured by the Consumer Price Index, moderated to 8.9% in November, new figures from the Central Statistics Office show today. This compares to an annual rate of 9.2% in October – a 38 year high. Today’s CSO figures show that food prices continued to rise but the price of…

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Wage growth in November slowed across economies in Europe, the UK and the US, according to the Indeed Wage Tracker published by the online jobs site Indeed.com. Its reading for Ireland shows annual wage growth slowing from a peak of 5.2% in July and August to 4.6% in November. The tracker, developed by economists from…

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New figures show that wind energy provided 48% of the country’s electricity in November, which means it was the biggest source of electricity in Ireland last month. Wind Energy Ireland said that wind energy has supplied 34% of Ireland’s electricity demand this year to the end of November. It said this marked the best November…

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The Irish Congress of Trade Unions (ICTU) is expected to tell the Oireachtas Committee on Social Protection today that the Government’s new auto-enrolment pension scheme should include young and low-paid employees as well as sole traders. In October, the Government approved details of the new auto-enrolment scheme ahead of its expected introduction in 2024. Workers…

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The rate of household savings fell in the third quarter of this year to 19% of disposable income, according to data published by the Central Statistics Office today. This was down on the 20% reported in the second quarter. This level is still high compared to pre-pandemic savings rates, which were around 10% according to…

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Businesses that are seeking assistance with meeting the cost of rising energy bills can now submit claims under the Government’s support scheme. Revenue has said eligible firms which have already registered for the Temporary Business Energy Support Scheme (TBESS) can now lodge applications for the grant funding. Under the €1.2bn plan, businesses can recoup up…

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A new survey from the Central Statistics Office shows that 96% of respondents are concerned about the current cost of living, with 56% being very concerned. The CSO’s “Our Lives Our Money” Pulse Survey also shows that 63% of respondents believe they are in a worse financial situation now than they were a year ago.…

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Euro zone business activity declined for a fifth month in November, suggesting the economy was sliding into a mild recession as consumers cut spending amid surging inflation, a survey showed. S&P Global’s final composite Purchasing Managers’ Index for the euro zone, seen as a good guide to economic health, nudged up to 47.8 in November…

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The European Central Bank will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB chief economist Philip Lane told Italy’s Milano Finanza newspaper today. “We do expect that more rate increases will be necessary, but a lot has been done already,”…

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A record €5 billion in corporation tax was collected in November, according to the latest Exchequer returns, the biggest monthly figure ever. The tax take, underpinned by a booming multinational sector, means the Exchequer has already passed the Budget Day target of €21 billion in corporation tax for the full year. It also represents a…

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