The Week ahead in business: ECB chief economist Philip Lane in Dublin, CSO figures on consumer prices, and an update on housing

Philip Lane, the chief economist of the European Central Bank, will be in Dublin on Monday to discuss the inflation outlook in the eurozone.

He is set to address the Institute of International and European Affairs (IIEA) as inflation in the eurozone continues to slow. The IIEA is an independent think tank and policy research institute.

The National Economic Dialogue is also taking place on Monday at the Printworks in Dublin Castle.

The event is the main institutional forum for public consultation and discussion on the Budget.

Discussions will focus around the theme of a more shock-prone world, and look at the challenges and opportunities for Ireland.

The Central Statistics Office (CSO) will publish a flash ­estimate for the Harmonised Index of Consumer Prices (HICP) for May on Monday.

The HICP was estimated to have risen by 1.6pc in the year to April 2024, according to last month’s release. It went up 0.2pc since March.

Energy prices were estimated to have increased by 1pc across the month and were down 6.3pc since April 2023.

Research group Kantar will publish the latest update on grocery price inflation in Ireland on Monday.

Grocery inflation has been slowing for a year and stood at 2.9pc in the 12 weeks to April 14.

This was down 12.9 percentage points from the corresponding period in 2023.

The CSO will share an update on earnings and labour costs for the first three months of this year on Wednesday.

On Thursday, an update on production in building and construction in the first quarter of 2024 will be published by the CSO.

This will provide insights into the rate of output, while demand for new housing shows no sign of slowing.

Output was down 0.7pc in the final three months of the year, the CSO reported in February.

However, volume in the residential business sector rose 3.1pc in the period compared with the third quarter of 2023.

Get ahead of the day with the morning headlines at 7.30am and Fionnán Sheahan's exclusive take on the day's news every afternoon, with our free daily newsletter.

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