Monday November 30, 2020

Falling inflation raises hope

The decline in inflation is the only chink of light for Taoiseach Brian Cowen as he prepares to take on the thorny issue of public sector cuts, writes Political Correspondent Niamh Connolly

24th January, 2009

The government’s efforts to drive down a public sector pay bill were given a boost by economic forecasts of a 3 to 4 per cent drop in inflation this year. Over the next 12months, workers will see an increase in their spending power, giving the government some leverage in its attempt to reduce pay costs across the public sector.

Pat McArdle, chief economist with Ulster Bank, predicts that inflation will turn negative this month and...

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