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Wage increases could fuel further inflation but experts not concerned just yet

Sarah Collins


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Finance Minister Paschal Donohoe has said he 'can’t meet every other demand that has been placed upon me when we get to Budget day'. Photo: Gareth Chaney/Collins Photos

Finance Minister Paschal Donohoe has said he 'can’t meet every other demand that has been placed upon me when we get to Budget day'. Photo: Gareth Chaney/Collins Photos

Finance Minister Paschal Donohoe has said he 'can’t meet every other demand that has been placed upon me when we get to Budget day'. Photo: Gareth Chaney/Collins Photos

Everything is getting more expensive and it’s not over yet. Annual inflation in Ireland hit 8.2pc in May, a level not seen since the 1980s. That figure is slightly higher than the record 8.1pc rise in the 19-member eurozone.

It is set to rise even higher on the back of surging oil prices, now that the EU has agreed on a partial Russian import ban, with Taoiseach Micheál Martin warning of “rocky” times ahead.


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