Minimum wage 'to add to costs for small food and drink firms'

Food and Drink Ireland noted that consumer price inflation for food and non-alcoholic drinks, although easing somewhat in the latest month, was at an elevated annual rate of 7.8%. 

The hike in the minimum wage will add to the costs facing small firms even as energy and commodities inflation slows, business group Food and Drink Ireland has said.   

The Ibec group is the latest business organisation to highlight the decision to raise the national minimum wage to €12.70 from €11.30, which, it said, "will lead to a significant increase in input business costs for SMEs, in particular".