This news piece covers various economic events in Ireland, including the slowdown of inflation in supermarkets, price hikes affecting telecom and pub sectors, and the reopening of the Clerys department store.
The rate of inflation in Irish supermarkets continues to slow with data from retail analysts Kantar Worldpanel suggesting prices are increasing by 7.1 per cent. It represents a dramatic decline from a rate of 15.5 per cent that was recorded at the height of the cost-of-living-crisis in the summer of 2023 and marks the eighth month in a row that inflation has fallen.
Many of the State’s leading telecom operators, including Vodafone and Three Mobile, link the price of their mobile and broadband packages to inflation, with increases of 3 per cent plus the Consumer Price Index rate of inflation rolled out each year. The finances of just under 40 per cent of Irish people have worsened over the last 12 months with large numbers feeling increasingly gloomy about their prospects despite some positive top-line economic news, according to the annual Pulse of the Nation. A new Deposit Refund Scheme is rolled out which sees an automatic 15 cent deposit added to bottles and cans of between 150ml and 500ml, and a 25 cent deposit added to bottles and cans of between 500ml and three litres. Concerns over customer service dominated complaints to telecoms regulator ComReg in 2023 with a significant number of consumers making contact over fraudulent activity on their accounts, according to a report. Irish pubs face a price hike of 6 cent per pint as Diageo announces a price hike and says it is necessary to “maintain a sustainable business”. Publicans condemn it as a “hammer blow” to the sector. The increase hits Diageo products including Guinness, Carlsberg and Smithwick’s. Clerys on O’Connell Street re-reopens, sort of. The new-look Clerys Quarter is occupied by H&M – which has spread itself over 30,000sq ft and two floors of the former department store. It will be joined later in the year by Decathalon
INFLATION PRICES TELECOMS PUBS ECONOMY
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