ISME concerned at inflation increase
Independent business organisation ISME (Irish Small and Medium Enterprises Association) has expressed concern at the jump in inflation from 2.2% in April to 2.4% last month.
ISME says that unless drastic action is taken to address cost increases in the sheltered sector of the economy, prices and costs to businesses would continue to increase.
Chief executive Mark Fielding said: “It is no coincidence that the most sheltered part of the economy with very little competition, is contributing the highest increase in the overall inflation rate.
“Unless the cost environment in these areas is adequately tackled, through reforms in the public sector and increased competition in the sheltered sectors of the economy, the consistent underlying threat to Irish inflation will remain for the foreseeable future.”
