News

The post-pandemic rebound in world growth and inflation last year meant the amount of debt sloshing around the global economy saw its first annual fall in dollar terms since 2015, a widely tracked study has shown. The Institute of International Finance report published on Wednesday estimated that the nominal value of global debt declined by…

Households were €1,000 worse off last year when inflation was taken into account – despite a rise in the median annual household disposable income – according to new figures from the Central Statistics Office. The CSO said the median annual household disposable income increased by over €500 last year to €47,000 compared to the previous…

The wholesale price of electricity fell further in January, dropping by 41.4% compared to December, according to the latest figures from the Central Statistics Office. Wholesale electricity prices were 19.5% lower in January this year compared to January 2022. Overall, the price of raw materials for goods produced for the domestic market rose by 8.2%…

A number of retailers in Ireland say they are experiencing availability issues with certain fruit and vegetables. They say salad products such as tomatoes, peppers and cucumbers are in short supply due to bad weather conditions in Italy and Spain. Tesco Ireland said that “due to bad weather in seasonal supply from Morocco and Spain,…

The Government has agreed a more targeted cost-of-living package, along with some universal payments, with €470m set to be allocated for social protection measures. It follows a meeting last night between the Coalition leaders and the ministers for finance, public expenditure and social protection. The plan was signed-off by the Cabinet this morning. Among the…

The Government has today announced more measures to help businesses deal with cost-of-living increases. It announced a final extension of the 9% reduced VAT rate for the hospitality sector for a further six months. The reduced VAT rate will return to the standard 13.5% rate from September. The measures announced today will also see the…

European new car sales up 10.7% in January European new car registrations jumped in January, 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 10.7% to 911,064 units, the European Automobile Manufacturers’ Association (ACEA) said. Article…

The Government has established a working group to coordinate efforts to combat the spread of disinformation on the internet. The multi-stakeholder group will be tasked with providing a joined-up approach to reduce the creation and spread of false and harmful material. Members will aim to complete a National Counter Disinformation Strategy by the end of…

The Government’s latest cost-of-living package is on course to exceed €1.2bn, of which €400m looks set to be allocated for social protection measures. It follows a meeting last night between the Coalition leaders and the ministers for finance, public expenditure, and social protection. The plan will be signed-off by the Cabinet when it meets at…

Property markets worldwide are showing signs of slowing in response to higher interest rates with some going into reverse already. Here, the annual rate of growth in property prices nationally had slowed to just below 8% by the end of last year, the latest measure form the Central Statistics Office this week showed. In December…