According to Oxfam, Irish workers experienced a nearly 4% pay cut in 2022 due to wage growth lagging behind inflation, while CEOs saw their pay packets increase by more than 25%. The average pay package of the 18 top bosses of Ireland’s largest publicly quoted companies rose by 27% to €3.46 million in 2022, whereas … Read more
Finance Minister Michael McGrath has advised the European Central Bank to exhibit caution and consider the impact of raising interest rates on households and firms. He has urged businesses to contribute to the fight against inflation by cutting prices. McGrath shared this sentiment during his meeting with ECB officials in Stockholm, stating that the monetary … Read more
Greedflation is a term that will likely be on the tip of everyone’s tongue in 2023 as concerns continue to mount over businesses causing inflation by increasing their prices under the guise of other inflationary forces. While post-pandemic demand, supply shortages, energy market disruption, and issues with supply chains have played a role in rising … Read more
Major Irish supermarkets including Tesco, Aldi, SuperValu and Lidl have announced a reduction in the price of milk in response to the rising cost of living crisis. Lidl became the first large supermarket to reduce the cost of milk, leading to other supermarkets following suit. The German discounter announced a cut of around 5% on … Read more
According to a flash estimate from the Central Statistics Office, prices in Ireland rose by 6.3% YoY up to April. The latest Harmonised Index of Consumer Prices (HICP) estimate has reported a lower inflation rate of 7% YoY recorded in March. Eurostat, the statistical office of the EU, will release April’s flash inflation estimates for … Read more
In the fight against inflation, central banks like the ECB use higher interest rates as their primary weapon. By increasing borrowing costs, consumer spending decreases, and demand in the economy falls, resulting in less money and easing inflation. However, this time around, inflation was caused by higher energy prices and supply chain problems, not consumer … Read more
Irish teachers are considering moving to Australia due to crippling rents and skyrocketing house prices. These issues, combined with the promise of sun, sea, and sand, have enticed many Irish job seekers to explore opportunities at Jobs Expo Ireland. Over 40 of the leading employers in Ireland and abroad, including Catholic Education Ballarat, offered perks … Read more
First modification: 23/04/2023 – 03:56 New York City is known for its hectic pace of life. Many call it “the city that never sleeps”, but this could be changing since the advent of teleworking, a new professional practice that is gaining more and more strength. According to the latest study by ‘Bloomberg’, the city loses … Read more
Variable mortgage rates offered by popular banks and lenders like AIB’s Haven and EBS have been a popular choice among customers in Ireland for years. However, recent reports suggest that both banks are set to increase their variable mortgage rates for selected customers. The news has caused concerns among homeowners and potential buyers who may … Read more
John FitzGerald, a respected economist and former head of the Economic and Social Research Institute, has recently made waves by calling on the Irish government to stop providing cost of living supports to families who don’t need them. In a new report, FitzGerald argues that these supports, such as child benefit payments and tax credits, … Read more