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An initial estimate for inflation, measured by the Harmonised Index of Consumer Prices (HICP), shows prices rose by 4.9% in the 12 months to August. Today’s latest Central Statistics Office figures show that prices rose by 0.5% over the month and the annual rate was higher than the 4.6% recorded in July. The HICP for…

Motorists are facing a hike in the cost of refuelling their vehicles from midnight tonight, as excise rates are increased by the Government. Petrol excise rates will increase by 7c per litre while diesel prices will rise by 5c. Agricultural diesel will go up by 1c. It is the second of three increases in excise,…

European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed today. Electric vehicle sales jumped 60.6%, continuing a rise buoyed by subsidies in a number of European Union countries. Full EVs accounted…

Companies around the world are on track to pay investors a record $1.64 trillion in dividends this year following a more than 6% jump in the second quarter, a report today showed. The figures by fund manager Janus Henderson estimated that 88% of companies globally had either increased their dividends or held them steady in…

Minister for Finance Michael McGrath has confirmed that the planned hike in excise duty will go ahead in September as it is already “locked in”. He said the decision had already been made by Government and legislated for by the Oireachtas. However, he said it should take some time to reach consumers. “In the same…

Ireland recorded the highest level of economic growth in Gross Domestic Product terms among OECD countries in the second three months of the year. There are 38 member economies in the Paris-based Organisation for Economic Development including the world’s leading economies. Between March and June, GDP growth across OECD economies was estimated to have registered…

The volume of retail sales increased by 5.9% in the 12 months to July, new figures from the Central Statistics Office show. On a monthly basis, sales volumes dropped by 0.8% when compared to June. When motor trades are excluded, the volume of retail sales fell by 4% in the month, and rose by just…

A fund of €17 million for private and community-based small tourism projects is opening for applications today. Failte Ireland was allocated €68 million in funding in total, the first part of which is focused on grants for small and community projects. It is part of the European Union Just Transition package announced earlier this year.…

Oil prices ticked higher today after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further US interest rate hikes that could dampen fuel demand. Brent crude rose 19 cents, or 0.2%, to $84.67 a barrel by 0627 GMT, while US West Texas Intermediate…

From shoes and uniforms, to school bags and stationary, back-to-school costs are mounting. It is an expensive time of year for those with children in both primary and secondary school, with many of the expenses unavoidable. A recent study carried out by children’s charity Barnardos revealed that many parents are concerned about meeting the costs…