Fergal O'Brien: No reason for inflation to derail economy if we take joined-up action

Ireland is a very different country and economy from that of the 1970s and 1980s and the response this time around will need to be very different

The challenges of commodity inflation are starting to hurt our capacity to deliver much-needed housing and infrastructure. Picture: PA

For the vast majority of people, this is the first time in their adult lives to experience worrying inflation rates, and most policymakers and business leaders are also now dealing with the challenges of inflation without the comfort of direct professional experience.

Ireland is also a very different country and economy from that of the 1970s and 1980s, and the response this time around will need to be very different from that in previous generations.