inflation Archives - LSL Auctions News

inflation

High price volatility in building materials must be curbed – SCSI

The main reasons for current price inflation is high price volatility across building materials – particularly insulation, cement, plasterboard metals, according to the Society of Chartered Surveyors Ireland (SCSI). Their Real Cost of New Apartment Delivery reports published in 2017 and 2021 respectively showed that lower-rise suburban apartment delivery costs rose from €155,000 to €177,000 during the four-year period. The report also highlights other factors such as labour cost increases…

Rising inflation impacts construction projects

Linesight, the Dublin-based construction consultancy firm, says rising inflation will affect multinational employers’ efforts to build or expand facilities in Ireland in 2022. In its new Construction Insights and Commodity Report, the global surveyors’ firm highlights that rising energy costs, as well as the war in Ukraine, will affect prices for building materials such as timber, steel, and copper. Linesight manages construction projects for industries in 24 countries. Clients include pharmaceutical…

Farmers struggling with excessive input costs

Beef and sheep farmers “are being crucified” by spiralling input costs, according to The Irish Cattle and Sheep Farmers’ Association (ICSA). In a recent meeting with Charlie McConalogue, Minister for Agriculture, Food and the Marine, ICSA President Dermot Kelleher urged him to channel exchequer funds to the vulnerable beef, suckler, and sheep sectors. The silage support scheme is helpful but not enough, said ICSA. They motivated for a EUR 2,000…

Inflation affects consumer behaviour in Ireland

Inflation the main driver of changes to consumer behaviour in Ireland

Recent take-home grocery figures from retail analyst Kantar indicate that Irish supermarket sales fell by 7.3% in the 12 weeks to 20 March 2022 due to inflation, with shoppers spending €78.2 million less on take-home groceries. The statistics highlight the impact of spiraling costs, which is seeing supermarkets reducing special offers on their shelves in an attempt to offset rising prices. Sales of pasta and flour have soared since the…

Household budgets being hit hard by stepped-up inflation

Chief economist at KBC Bank Austin Hughes says that many households are likely to face a palpable drop in living standards this year. “We estimate that the step-up in inflation between 2021 and 2022 will drain around €4bn from consumer spending power, implying a hit to the average household of just over €2,000.” The results of the latest KBC Bank Consumer Sentiment Index come as the Economic and Social Research…

Largest annual increase in the CPI in 21 years

The upward spiral of fuel, petrol and food prices seems to be continuing unabated. KBC Bank economist Austin Hughes predicts that inflation will be higher in March, and could even increase further in April despite the Government payment of €200 to households to cope with surging electricity bills. Hughes anticipates that the spill-over impact of runaway energy costs will have a bigger impact on food prices, transport and other goods…