Inflation in Ireland set to reach almost 5% this year

European Commission forecast comes as the government is set to announce measures to deal with the increased cost of living

The rate of inflation in Ireland is to increase from 2.4 per cent in 2021 to 4.6 per cent this year, the European Commission said in its Winter Economic Forecast report. Picture: Getty

Inflation in Ireland is to almost double this year according to the European Commission.

The rate of inflation here is to increase from 2.4 per cent in 2021 to 4.6 per cent this year, the European Commission said in its latest Winter Economic Forecast report. The figure is above the European expected average of 3.9 per cent.

Inflation predictions have been revised upwards since the last European Commission forecast in November. The predicted rate of ...