JimD

INFLATION The inflation figure for the US for March has turned out to be a disappointment. A slight increase of 0.1% had been expected, which itself was not great. But the increase was 0.2% bringing the figure to 3.5%. Expectations of an early fall in official rates have been dampened. The fundamental problem is that the US economy has rebounded energetically from Covid. With the 2% target still some distance away the monetary lid will have to be kept on for a bit more. In Europe the inflation figures are better: March saw a rise of 2.4%, down from 2.6% in February. The Irish figures for the CPI are also better from 3.4% in February to 2.9% in March. However, the better EU inflation situation reflects a sluggish economy - the opposite to the US. Even so, it seems that cuts in the ECB rates are not imminent. It would seem that the folk in Frankfurt remain to be convinced that inflation is under control.

OECD REPORT ON IRISH EDUCATION: The OECD published on 5th December a report on educational attainments in 81 countries throughout the world. Ireland comes out extremely well. In the three subjects examined, Maths, Reading and Science, Ireland is in tenth place on the first and third and in second place on Reading. That means are children are better then the Germans (for example) at Maths, the English at Reading, and the Americans at Science. Scores have dropped everywhere since the last report (in 2018) possibly as a result of Covid. But Irish results have fallen less than the average and in Science we have improved. There are also indicators that gender and social inequality is less marked in Ireland than in the other countries. The report marks a major success.