Archive for February 2023
Euro zone inflation drops to 8.5% in January from 9.2% in December
Inflation in the euro area fell to an annual rate of 8.5% in January from 9.2% in December, according to an initial estimate from Eurostat. Energy inflation fell to an annual rate of 17.2% from 25.5% in December. But food inflation increased from 13.8% to 14.1%. Core inflation, which strips out the effect of food…
Read MoreHairdressers warn salons at risk if VAT rate rises
The Irish Hairdressers Federation has called for the retention of the 9% VAT rate for the sector ahead of its planned rise in the coming weeks. The rate is due to increase to 13.5% on 1 March. The federation said hair salons have seen their costs rise dramatically in the past year and the VAT…
Read MoreIrish economy grows three times faster than euro zone average in 2022
The EU’s statistical agency, Eurostat, has estimated that the euro area economy, measured by GDP, grew by 0.1% in the last three months of last year compared to the previous three months. Across 2022, Eurostat estimates that the euro area economy grew by 3.5% of GDP. Ireland’s economy, boosted by the performance of multinationals, grew…
Read MoreAnnual rate of inflation slows to 7.7%, CSO estimates
The annual rate of inflation slowed to 7.7% in January, according to an initial estimate by the Central Statistics Office. This compares to an annual rate of 8.2% in December. This measure of inflation is the Harmonised Index of Consumer Prices (HICP), which allows for comparisons across the EU. Eurostat’s estimate of inflation across EU…
Read MoreRTB pausing and refunding late fees to landlords
The Residential Tenancies Board is applying a temporary pause on the charging of late fees in recognition of “the genuine difficulties” experienced by landlords who have been trying to register tenancies. It is also in the process of refunding landlords who were charged late fees between August and November last year, with over 80% of…
Read More70% of consumers considering buying an electric vehicle
70% of consumers in Ireland are considering an electric vehicle as their next car purchase, a new survey by DoneDeal shows. The figures show that demand on the website for new and used electric vehicles grew by 33% last year, while demand for diesel cars fell 39% during the same period. For the first time…
Read MoreRent tax credit adds to volume of calls to Revenue
Revenue is experiencing a higher volume of calls due to tenants enquiring about the new rent tax credit. The measure, introduced in Budget 2023, allows tenants paying rent on private rental accommodation to claim a €500 rent tax credit. The credit is for 2022 so when a renter claims it, it will result in a…
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