Archive for September 2023

Grocery price inflation slowed to 11.5% in the 12 weeks to September 3, new figures from Kantar show today. This marks the lowest level of grocery price inflation since September of last year and is down from a rate of 12.8% in the 12 weeks to August 6. But it remains much higher than the…

A slowdown in construction activity continued in August, according to the latest construction purchasing managers index from BNP Paribas Real Estate Ireland. There was a sharper contraction in activity last month than in July, as a continued fall in demand saw new orders shrink and the rate of employment growth ease. The PMI stood at…

Vladimir Lenin is widely credited with the phrase ‘there are decades where nothing happens; and there are weeks where decades happen’. He could well have been talking about the Irish stock exchange – or Euronext Dublin, as it’s now known – and events on the frontline there of late. It appears as if there has…

Wholesale electricity prices continued their decline in August compared to prices last year, according to the latest report published by the Single Electricity Market Operator (SEMO). SEMO operates the wholesale market for electricity on the island of Ireland. Its figures show that, in the year to end of August, the daily average price for wholesale…

The Minister for Finance has said the latest European Central Bank interest rate increase will undoubtedly add pressure to many households who already are carrying the burden of previous interest rate hikes. This afternoon, the ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Michael McGrath said the Government will…

The Government has announced plans to introduce changes to how dividend income received from foreign branches of companies with bases in Ireland are taxed here. The reforms, if implemented, will mean qualifying dividend income that is transferred here from a foreign company within a company group will from 2025 be exempt from tax in Ireland.…

The European Central Bank raised interest rates for the 10th meeting in a row today to counter stubborn inflation but signalled that it is likely done tightening policy. The ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Markets and economists expect the policy tightening move to be the ECB’s…

One in three people in Ireland now use banking apps from outside of the traditional sector, nearly double the number a year ago, new research has found. The Consumer Banking Sentiment Survey, carried out for the Department of Finance, also found that 82% agree services provided by digital only banks are a good substitute for…

Local Enterprise Offices have launched a campaign encouraging small businesses to avail of supports that will help them save time, money and energy. The “All In A Day’s Work” campaign is focused on highlighting the supports that will enable small businesses to make significant changes to the way they work. The supports include the Lean,…

The European Central Bank’s governing council meets in Frankfurt today to decide if it will continue to increase interest rates as part of its efforts to bring inflation down. Since July last year, the bank has increased rates after nine consecutive meetings. The ECB has put up interest rates by over four percentage points since…