Inflation this year will average between 4% and 5%, McGrath tells Cabinet

MINISTER FOR FINANCE Michael McGrath has said inflation this year will average between 4% and 5%, down from the current rate of 7%.

Inflation is now on a downward trajectory, said the minister. For this year, headline inflation is projected at 4.9%, with a further moderation to 2.5% next year. Annual inflation has dropped slightly from 8.5% up to February of this year. However, March was the 18th consecutive month during which inflation was over 5%.

There will be additional spending power for this Government come Budget 2024, with the projected surplus for this year likely to be in excess of €8 billion. The National Demand Management Strategy also aims to improve air quality and provide more and safer space for public transport, walking and cycling.

No way could headline inflation be this low! Core has been running more than this for the more than 6 months now.

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Inflation this year will average between 4% and 5%, McGrath to tell CabinetMinister for Finance Michael McGrath is expected to tell Government that inflation this year will average between 4% and 5%, down from the current rate of 7%. No drop in prices though. Does that mean bread won't rise in price and diesel will fall in price probably not Food inflation running at 3 to 4 times that
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