Kieran McQuinn, a research professor at the ESRI, said the Irish economy was struggling with price increases in areas such as food and housing
Inflation will remain higher for longer than had been forecast as price increases have seeped into other areas of the economy, the Economic and Social Research Institute has said.
The think tank, which has slashed its growth forecasts for the Irish economy, said it expected inflation to fall to “just over 3 per cent” next year but warned that the rate of decline was slower than anticipated.
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