Search

Listen Live

On Air Now

6:30am - 9:00am

Breakfast with Peter Dunne

Queen

Heaven For Everyone

Goods Used To Determine Inflation Rates To Be Updated

Thursday, 15 February 2024 08:54

Stock Image

Also in your business news, residents in New Ross will be campaigning to save their post office.

The basket of goods used to determine inflation rates here is being updated. 

The Central Statistics Office will announce details of the changes later today. 

For the past 75 years the CSO has monitored the price of 600 commonly bought household goods, to establish if consumer prices are rising or falling.

From the monthly analysis it establishes the rate of inflation in Ireland. 

Since the process began the items in the shopping basket have changed to keep pace with shopping habits and updates in technology. 

In past decades things like corsets, chewing tobacco and cassette tapes have made way for more modern goods like avocados, music downloads and e-cigarettes. 

The list is generally updated every year, but the covid pandemic means this latest updated has been delayed until today.

===

Residents in New Ross in Wexford are campaigning to save their local Post Office. 

They've collected over a thousand signatures on a petition, and they're holding a rally in the town at 4pm this afternoon. 

It's over plans to franchise the service, which could see the business move to another location.

===

Looking at today's Currency Markets, €1 buys you £0.85 and $1.07.
While the ISEQ Index of Irish Shares is at 9,380, up 0.09% since the opening.

Your business headlines – with IFAC - providing accountancy and tax advisory nationwide with locations in Mullingar, Portlaoise and Tullamore, find your local office today! IFAC.IE

Share

More from Business News

Download Our App

Never miss a moment from Midlands 103