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Average earnings rise at half the rate of inflation

Wages in Ireland increased 2.1 per cent to over €920 a week in the final quarter of 2023 compared to the same period in 2022

CSO figures show that 12 out of 13 sectors saw an annual increase in average weekly earnings. Picture: Sam Boal

Average weekly earnings rose by 2.1 per cent to more than €920 a week in the fourth quarter of 2023 compared to the same period in 2022, according to new figures.

The Central Statistics Office (CSO) preliminary estimates for the end of 2023 showed that average hourly earnings also by 2.1 per cent to €28.43, up from €27.85 in the fourth quarter of 2022.

The increase in weekly earnings was less than half the rate of inflation for the same period, however, with CSO figures in January showing that the consumer price index rose to 4.6 per cent between December 2022 and December 2023.