Consumers in the Republic could be facing into a period of food price inflation with an increasing number of agri-food firms reporting a hike in costs, according to a report by accounting and professional services firm Ifac. The group's latest sentiment survey suggests that while confidence among agri-food businesses here has risen in recent months, a significant number of firms are reporting difficulties to do with rising costs, recruitment and Brexit. Eoin-Burke Kennedy reports.
A further consumer warning on inflation comes from a report carried out by Behaviours and Attitudes who say shoppers can expect to pay more at the cash register with a "clear move" towards higher pricing now evident, driven mainly by mid to large SMEs and those based outside Dublin. Colin Gleeson has the details.
Colin also reports that concerns about over-regulation "remain high" in the insurance sector and may be fuelled by an increased focus in the area of business interruption insurance, according to an industry report by PwC. In the 2021 Insurance Leaders' Survey, 85 per cent of insurers expressed confidence about business growth for the year ahead, which was up from 71 per cent this time last year.
In our Wednesday column, Paul Krugman looks at the pandemic as a case study for 1930s Austrian economics and writes that Covid-19 produced a reallocation shock as some demand surged and some slumped.
Meanwhile, Charlie Taylor reports that Kindora, a company that has developed a platform to sell-on premium pre-owned children's goods, has raised €500,000 from investors. It has also just become the first female-founded Irish business to be selected for the Techstars London seed accelerator after it was founded in August 2020 by Sarah Ouellette.
Private Pier Industries, the Berlin-based company that owns the Grace O'Malley and Proclamation whiskey brands, is to establish a new €4 million blending, bottling and maturation facility in Co Louth.The company initially plans to occupy a 1,858 sq m (20,000 sq ft) premises in its first phase, doubling in size within a year to 3,716 sq m (40,000 sq ft) upon completion.
In Commercial Property, Ronald Quinlan reports that while its expansion of its Irish empire continues apace, JD Wetherspoons is seeking €2.5 million for what was the first of its venues in the Republic – The Three Tun Tavern in Blackrock, Co Dublin.
In Kildare, agents expect to see strong interest in the sale of Henry Grattan's pub in Celbridge, Co Kildare, which is on the marekt at €1.7 million.
Ronald also reports that The Jam Factory site in Dublin's Coolock, is being reoffered to the market by agent Cushman & Wakefield with the benefit of the planning permission secured by the owners at a guide price of €25 million.
You can read all the rest of today's Commercial Property news, here.
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