- Inflation remains high but has begun to ease, with both headline and core inflation now expected to be lower than previously forecast in 2023, at 5 per cent and 3.5 per cent respectively.
- The unemployment rate is expected to remain low, averaging 4.4 per cent out to 2025, with tight labour market conditions continuing.
- Modified domestic demand is forecast to grow by 3.1 per cent in 2023, 2.9 per cent in 2024 and 2.6 per cent in 2025.
The Central Bank has today (8 March 2023) published its first Quarterly Bulletin of 2023. On the launch of the Quarterly Bulletin, Robert Kelly Director of Economics and Statistics said: “The global economic backdrop has performed better than previously expected, and the Irish economy is showing continuing resilience. As the year progresses, amidst a tight labour market, household real incomes are expected to recover gradually, supporting underlying growth in the domestic economy. The headline inflationary pressures are easing, however inflation
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