Government spending is set to fuel ­future price hikes, with inflation to slow but keep growing up to 2025, the Central Bank predicts. But inflation could speed up if energy prices, government supports or wages pick up, the risks of which are growing, the Central Bank said. It marks a sharp slowdown from last year, when the domestic economy grew by 9.5pc. GDP is expected to grow by 2.5pc next year and almost double to 4.8pc by 2025, far outstripping the domestic economy. It warned the Government not to act at “cross purposes” with the European Central Bank (ECB), which is trying to take the heat out of the eurozone economy.

Source: Irish Independent September 19, 2023 23:58 UTC