Record levels of  inflation as businesses  battle rising costs and war uncertainty 

Fuel prices on display at a Circle K service station on Glasnevin Avenue in Dublin. Fuel prices are among the sky-rocketing commodities. Picture: Brian Lawless

There were unprecedented cost pressures for Irish companies in March as inflation and the war in Ukraine led to many businesses raising their own charges to record levels.

This charge inflation by service providers surpassed the previous record set in October 2000 as businesses are combating rising costs of energy, fuel, labour, insurance, transport, in addition to the uncertainty caused by the war in Ukraine, an AIB survey showed.