Category: Business News

The savings rate among households increased to 14.7% between January and March. New data from the Central Statistics Offices shows that households saved €8.1bn during the three month period, before adjusting for seasonality or inflation. The CSO noted that the first quarter of the year tends to have higher savings, as consumption is lower after […]

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Cost of living pressures continue to top the agenda for consumers, new data shows. The latest Future Consumer Index from EY tracks changing consumer sentiment and behaviours right across the world. 23,000 consumers were surveyed across 30 countries, including here in Ireland. It found that 62% of Irish households, and 55% of global households are […]

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Consumer prices for goods and services rose by 2.6% over the 12 months to May. The figures from the Central Statistics Office show that when energy and unprocessed food are excluded, the Consumer Price Index (CPI) went up by 3.5%. The largest increases in the year to May were recorded in the transport sector, followed […]

Read More… from Consumer prices rose by 2.6% over the 12 months to May

The number of new electric cars sold in the first five months of the year dropped by 20% compared with the same time last year, new data shows. The figures from the Central Statistics Office show that 9,458 new EVs were licensed between January and May, down from 11,918 during the same period in 2023. […]

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The Federal Reserve held interest rates steady yesterday and pushed out the start of rate cuts to perhaps as late as December as policymakers sketched out their view of an economy that remains virtually unchanged across its major dimensions for years to come. With growth and unemployment lodged at levels better than the US central […]

Read More… from Fed leaves rates unchanged, sees only one 2024 cut despite inflation progress

Oil prices fell in early trade today, as investors digested that the US Federal Reserve had likely pushed back a possible interest rate cut to December, while ample US crude and fuel stocks also weighed on the market. Brent crude futures lost 23 cents, or 0.3%, to $82.37 a barrel, as of 0415 GMT, and […]

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Government plans to increase Pay Related Social Insurance (PRSI) to fund the State pension will lead to a slight increase in poverty rates, particularly the child poverty rate, as those in the most affected age cohort are also those most likely to have dependent children. New research from the Economic and Social Research Institute (ESRI) […]

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US consumer inflation ticked lower last month, according to US government data, giving the US Federal Reserve positive news shortly before it publishes its latest interest rate decision. The annual consumer price index (CPI) came in at 3.3% in May, down 0.1 percentage point from April, the Labor Department said in a statement. The monthly […]

Read More… from US inflation down slightly ahead of latest Fed decision

Irish mortgage rates dropped slightly in April, new data from the Central Bank of Ireland shows. The average interest rate on a new mortgage was 4.24%, down 0.07 percentage points compared to March. This meant Ireland had the seventh highest rates in the Eurozone, an improvement of one place on the previous month. The Eurozone […]

Read More… from Irish mortgage rates drop slightly in April, Central Bank data shows

Oil prices traded lower today, as investors waited for key US and China CPI data as well as the outcome of the Federal Reserve’s policy meeting to glean a clearer picture of where inflation is heading and how that will affect fuel demand. Brent crude futures fell 13 cents, or 0.16%, to $81.50 per barrel […]

Read More… from Oil edges down as cautious investors await Fed meet, US CPI data