The hike in inflation is easing but is expected to still increase significantly this year - that’s according to the Central Bank’s latest Quarterly Bulletin which has been released today.

Headline inflation had peaked at almost 9.5% last autumn but this is expected to drop to 5% in 2023.

Former Chair of the Irish Fiscal Advisory Council and Lecturer in Economics at UCC, Seamus Coffey explained the findings of the report.