Irish Inflation Steady at 3.6% in April; Building Material Prices Up 1.8% in February

Headline inflation in the Irish economy remained steady at 3.6% in April. Cliff Taylor of The Irish Times noted potential turbulence in energy over the next three to six months. Conor Pope offered energy-saving tips, including reducing shower time, kettle water, and immersion heater use, which could lead to substantial savings by year-end.

Building material wholesale prices increased by 1.8% in February, following a 1.5% rise in January, marking the highest rate since October 2023. The euro value of Irish retail fuel sales (diesel and petrol) surged by 7.7% in March from February, according to CSO data, reflecting the initial impact of the global energy price shock from the US-Israeli attack on Iran.

Oracle plans to cut approximately 150 Irish jobs, about 15% of its Republic of Ireland workforce, as part of global reductions due to AI spending-related cash crunch. Icon, a Dublin-based clinical trials company, confirmed revenue accounting issues extended from 2023 and 2024 into the first nine months of last year after an investigation. Sherry Fitzgerald appointed Pat Farrell as a non-executive director. Allbirds, a former shoe business, is pivoting to AI infrastructure, a move met with skepticism. Ciara O’Brien reviewed new digital banks and Ray-Ban Meta Gen 2 smart glasses.