Irish rate of inflation set to ‘peak’ next quarter, analysts warn

The Esri predicted a ‘spike in prices’ for the last quarter of 2021, driven by rising global energy costs and the swell of demand which continues to outpace supply

6th October, 2021
Irish rate of inflation set to ‘peak’ next quarter, analysts warn
The Esri said that though price hikes should abate during 2022, further supply chain issues and instability in the energy market could risk feeding inflation. Picture: Rolling News

Inflation in Ireland “will peak” during the fourth quarter of 2021, a new report has suggested

The rate of inflation for 2021 will average out at 2.3 per cent, according to the Esri’s quarterly economic commentary, and 2.5 per cent in 2022.

Irish inflation hit a 10-year high in the month of August of 2.7 per cent, data from the Central Statistics Office (CSO) showed, driven primarily by rising costs in housing, transport, restaurants and hotels....

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