A lot done, more to do – prices in the eurozone and Ireland’s competitive adjustment
The EU has released its latest consumer price survey, which found prices in Ireland are about 18% above the EU average – although that varies by sector, with clothes and footwear below average and food (and alcohol) significantly more expensive. This post tracks European countries’ changing competitiveness over time, with Ireland’s readjustment sizeable but not yet complete. Indeed a contrast with Iceland and the UK highlights the stark difference between countries that are forced to devalue and those than cannot. Read more