Inflation Rates In March Were At 6.9%

Wednesday, 6 April 2022 14:33

By Caoimhe Harney

It was the highest monthly figure in 40 years..

The Central Bank says turmoil in Europe has reduced household incomes, led to higher costs for businesses, and hindered Ireland's economic recovery.

Russia's invasion of Ukraine and the Covid-19 pandemic continue to affect the Irish economy.

It has said the average inflation rate for the rest of the year will be 6.5%.

A rate of 6.9% was recorded last month,which is the highest in nearly 40 years.

However, the Central Bank predicts Ireland’s domestic economy will grow by 4.8% in 2022.

Meanwhile, The hospitality industry is still recovering from the Covid restrictions imposed on the sector.

The Oireachtas Tourism Committee will hear how there's an estimated 40,000 vacancies across the industry this afternoon.

The Monthly Unemployment rate for March 2022 was 5.5% for all persons aged 15-74 years.

Head of the Irish Economic Analysis, Central Bank, Martin O Brien discussed the inflation rates on Wednesday morning's Kildare Today with Clem Ryan:

More from National News

Taxi Driver Protest Suspended Pending Outcome Of Talks

The action has been suspended pending the outcome of a meeting at Government buildings next week.
BREAKING: Green Light For €1.3bn Drainage Scheme Serving Kildare After Court Agreement

The major project is seen as crucial to the provision of future housing infrastructure.
Irish Troops Come Under "Small-Arms Fire" In Lebanon

Defence Minister Helen McEntee is condemning the incident, and says it's an unacceptable breach of the UN Security Council Resolution.
€17,000 Paid Out For Pothole Damage In Kildare - But Some Claims Now Deemed ‘Act Of God’

IPB Insurance, which manages complaints on behalf of Kildare County Council, is the insurance company some people appear to be having issues with.
€2.2bn Children’s Hospital Misses Yet Another Deadline As Kill-Based BAM Brings In International Experts

Audio

Children’s Health Ireland were due to get access to the grounds on Wednesday, but the Health Minister says this has been pushed back again until the end of the month.
Maynooth Study: Poor Insulation And Draughty Homes Leaving Families Sick In Some Ageing Council Estates

The Just Housing project at Maynooth worked with the Community Action Tenants Union to survey long-established local-authority homes - focusing in this case on a 1950s estate in south Dublin as an example of wider problems in ageing council stock.
Nikita Hand Welcomes Supreme Court Decision Against McGregor Appeal In Civil Rape Trial

Just over a year ago the former MMA fighter was found liable for assaulting Ms. Hand, based on her claims that he raped her in the penthouse suite of a Dublin hotel in December 2018.
Council’s Strict One-Off Rural Housing Rules Leave Naas Farmer With No Way To Rebuild Home On Her Own Land

The Judge noted that the inspector recognised her need for a new home arising from her marital separation, but explained that the “exceptional circumstances” provision in the previous Development Plan no longer exists under the current one.