ISME concerned at inflation rise
09/12/2004 - 14:20:27The increase in the inflation rate to 2.9% from 2.7% is disappointing and worrying as the gap between Irish inflation and the rest of the Euro-zone widens, according to independent business organisation ISME.
ISME warned the increasing cost of living would continue to put pressure on labour costs, which provide the biggest threat to the viability and sustainability of many small businesses.
"If we are serious about our competitiveness it is essential that the headline rate of inflation be brought below the EU average in order to introduce a level of wage moderation that corresponds with our European counterparts," said an ISME statement.
