Eamon Quinn: Inflation likely to haunt Ireland like it's the 1970s

Energy costs, minimum alcohol pricing, the age-old Irish problem of housing costs may come to define 2022 as the dangerous year of inflation, writes Eamon Quinn.

For Ireland, many economists say inflation has further to run.

It's no secret that consumer prices — already running at their highest for two decades — have much further to go as households face paying further hikes in their winter utility bills. But the risk of widespread inflation taking hold from everything from food to booze to rental costs will haunt Ireland through 2022.

The drivers of Irish inflation are the same around the world. Amid huge global shortages, large increases in wholesale gas and crude oil prices this winter are being passed on to households.