Economics

The 'flash' inflation figure for Ireland for June shows that the rate of price increases in Ireland is continuing to slow down. The preliminary figure released by the CSO reports a 1.5% increase on June 2023. This is down from 2.0% in May. The corresponding figure for the Eurozone is 2.5% which is very slightly less than in May. While a little disappointing, it may not rule out chances of a cut in ECB interest rates later this year to add to the 0.25% cut in June. In the US expectations of an early fall in official rates are on hold as inflation remains highish and the US economy is very buoyant.