Energy Price Surge Triggers ECB Rate Hike Warning

Higher energy costs drove euro zone inflation back above 3% in August, setting the stage for another European Central Bank rate hike next week.

The surge in energy prices has made an ECB rate rise almost inevitable, according to some analysts.

In a move that may help ease cost of living pressures, IKEA is cutting prices on many popular items by 15 to 25% across Europe, including Ireland. However, this price cut will likely come at the expense of profits for the flat-pack furniture retailer.

Krispy Kreme's Irish business has seen losses more than double to €3.07 million last year, with sales falling by 10% over the past two years.