Archive for August 2024

Four out of every ten new homes sold last year across the country changed hands as part of a transaction where multiple units were sold together, new research has claimed. In total there were 7,306 new units sold as part of such “block sales” the analysis by estate agents DNG has found. Block sale buyers…

The wholesale cost of electricity rose 3% in the month to July, new data from the Central Statistics Office shows. It meant that prices were 15.3% higher than they were in July of last year. However, prices are still 58.5% lower than they were in July of 2022, when they were still being severely influenced…

Inflation in Ireland is continuing to ease, according to the latest figures from the Central Statistics Office. The EU Harmonised Index of Consumer Prices (HIPC) is estimated to have increased by 1.1% in the 12 months to August and is up 0.1% since July. This compared to 1.5% in the 12 months to July when…

The Wage Subsidy Scheme, which offers private sector employers a subsidy to provide employment to people with disabilities, is to be expanded. A number of changes to the scheme have been announced following a review of the initiative. The scheme pays a minimum subsidy rate of €6.30 an hour to the employer, which can increase…

Changes to employment permits, designed to make the system more flexible, will come into force from Monday 2 September. Regulations giving effect to the Employment Permits Act were signed today. Under the new rules, certain categories of permit holders will be able to change employer after a nine month period. A new seasonal employment permit…

Consumer confidence dropped slightly in August, according to the latest Credit Union consumer sentiment index. Concerns about household finances in the months ahead and a renewed nervousness about the economy weighed on consumer thinking, the survey states. It suggests that the looming seasonal increase in spending pressures is adding to the lower consumer mood. “The…

Preliminary figures from the Central Statistics Office show that average weekly earnings for the second quarter of 2024 reached €963.17, an increase of 5.6% or €51.43 compared with the same time last year. The CSO said that average weekly earnings rose across all 13 sectors in the year to the second quarter, with the largest…

Household electricity bills could be set to rise by up to €8.42 a month over the coming year. The increase is the result of the energy regulator setting network charges for the period. The Commission for the Regulation of Utilities (CRU) said network charges are needed to enable ongoing investment to take place in the…

Just over 5,300 mortgages were approved in July, the latest figures from Banking and Payments Federation Ireland show. First time buyers continue to drive the bulk of the activity, accounting for almost two thirds – 61.9% – of all approvals in the month. Just under a quarter of approvals were granted to those looking to…

Growing signs of lacklustre growth and risks emerging to the job market overshadowed a gathering of global policymakers at the US Federal Reserve’s annual Jackson Hole conference, highlighting the changing trajectory of monetary policy as US and European central banks eye cutting interest rates. Even as the focus of US and European central bankers shifts…