High costs hit Irish trading

STATE advisory board Forfás has warned increasing costs will present a challenge for Ireland this year.

In its end-of-year statement, Forfás said last year saw a loss in Ireland’s international price competitiveness due to euro appreciation and wage increases ahead of productivity growth rates.

A further weakening of sterling or the dollar, together with anticipated moderation of economic growth in Ireland’s main trading partners would result in an even tougher international trading environment, it said.