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The annual rate of inflation across the euro area eased back to 10% in November, according to an initial ‘flash’ estimate from the EU’s statistical agency Eurostat. This compares to an annual rate of 10.6% recorded in October and is the first fall in the rate of inflation in 17 consecutive months. The main contributor…

Companies across Ireland will start to publish information on their gender pay gaps from today. Firms of all sizes are being mandated to produce a report outlining the differential in pay and bonuses between their male and female employees. Companies with 250 or more employees were asked to select a date in June this year…

New laws governing the practice of tipping come into force from today, providing a boost to workers’ rights. Under the Payment of Wages Act employees now have a legal entitlement to receive tips and gratuities paid in electronic form. The new law also requires that this money should be paid to workers in a manner…

An entitlement to paid sick leave is scheduled to come into effect in the New Year after the Tánaiste, Leo Varadkar signed the commencement order. From January, workers will be entitled to up to 3 days of sick leave in a year, paid at 70% of gross salary up to a cap of €110. The…

New figures from the Central Statistics Office show that average weekly earnings were €864.32 in third quarter of this year, up 3.2% on the same period last year. Over the past three years, weekly earnings rose by 12.4%, from €769.14 in the third quarter of 2019. Today’s data shows that average hourly earnings increased by…

Euro zone economic sentiment rebounded in November slightly more than expected, data showed today, rising for the first time since the Russian invasion of Ukraine in February on more optimism among consumers and in services. The European Commission said its economic sentiment indicator rose to 93.7 in November from 92.7 in October, marginally beating consensus…

Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said today. “We do not see the components or the direction that would lead me to believe that we’ve reached peak inflation and that it’s going to decline in…

New laws covering consumer rights around faulty goods and services, digital products and sale pricing take effect from today. The Consumer Rights Act introduces stronger rights of redress for faulty goods, including the straightforward option of cancelling a faulty purchase within 30 days for a full refund. Kevin O’Brien, member of the Competition and Consumer…

New Central Statistics Office figures show that the volume of retail sales rose by 0.7% in October but fell 2.6% on the same month last year. This marked the sixth month of annual decreases in a row. With inflation running at an almost 40-year high of 9.2%, the value of retail sales were 1.2% higher…

Bank lending to euro zone companies held steady, maintaining the sector’s biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European Central Bank data showed today. Lending to businesses in the 19-country euro area expanded by 8.9% in October, unchanged on September when it rose to its highest rate…