The ESRI now expects inflation to average 3.2 per cent this year as the Iran crisis is likely to have a lasting impact on prices in Ireland. Photograph: Georgi Licovski / EPAMeasures announced to shield consumers from the current energy price shock represent a “subsidy to higher income households”, the Economic and Social Research Institute (ESRI) has said. The think tank said a general cut to excise duty on fuel was untargeted even as it warned that rising energy costs linked to the Iran crisis will push inflation to 3.2 per cent this year. The ESRI expects approximately 37,400 units to be completed in 2026 and 38,000 in 2027. It warned that if the current energy price spike feeds into construction inflation, that would pose a further risk to Government targets.

Source: The Irish Times March 26, 2026 15:00 UTC