Archive for June 2024

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…

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…

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…

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.…

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…

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…

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…

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)…

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…

New figures from the Central Statistics Office show that the seasonally adjusted Live Register total fell by 0.3% to 173,200 people in May when compared to the previous month. The CSO said the unadjusted Live Register total stood at 168,406 people, down 4.6% from the same month last year. Of the 168,406 people on the…