Exports boom drives Ireland's economy, but inflation starting to bite  

Output of multinationals is strong but cost-of-living crisis hitting households hard

Households are feeling the pinch as prices spiral.

The output of the multinationals drove the economy in the early months of the year, but early signs were already emerging that the cost-of-living crisis was bearing down on many households, new official figures suggest.

The Central Statistics Office data showed Ireland's GDP expanded at the fastest rate in Europe, by almost 12%, in the first three months of the year compared with the previous quarter, thanks to surging exports of the multinationals.