EU: Inflation pressures to persist in Ireland and rise faster than most of Europe

Inflation pressures have taken on a huge significance because central banks will likely act to increase rates should inflation persist.

Inflation pressures will persist in Ireland for a number of months and will rise faster this year than many other places across Europe, according to the latest country-by-country scorecard from the European Commission.

In its Winter 2022 outlook, the EU projects an average Irish rate of inflation of 4.6% this year, which is higher than the 3.5% rate it forecasts for the eurozone as a whole.