Come one, come all, to the last month where we’ll have peace for a while. As the Budget and presidential election creep in, dare we say we’re about to have a wild few weeks ahead. Buckle up and lock in. But before that, let’s look back on the month that was.

1. Irish inflation hit a 20-month high.

New data released on Tuesday found inflation, when measured using the EU Harmonised Index of Consumer Prices (HICP), rose by 2.7% in the 12 months to September, up from 1.9% in August. While food prices fell marginally on a monthly basis, down 0.2% compared to August, they rose by 4.7% over the last 12 months. Meanwhile, energy prices, which also fell on a monthly basis, were up by 1% compared to September 2024.

Speaking on the figures, CSO statistician Anthony Dawson said while annual inflation has risen, it should be noted that prices between August 2024 and September 2024 fell by 0.8%. “The low base in September 2024 has had an impact on the annual change of 2.7% in the year to September 2025,” he said.

2. A looming 100% pharma tariff caused alarm for the pharmaceutical industry.

US President Donald Trump said that from October 1, there will be a 100% tariff on imports of branded or patented pharmaceutical products, unless their manufacturer is building a factory in America. He shared this on the social media platform Truth Social, stated that the word building would be “defined as ‘breaking ground’ and/or ‘under construction’”. In other words, another terrifying day for his legal team.

This move challenges an existing EU-US agreement that capped such tariffs at 15%. The European Commission quickly pointed out that the Trump administration has previously promised to limit any pharma tariffs to 15%. The Tánaiste, Simon Harris, said the deal is “absolutely clear” on that point. However, there was a considerable lack of detail in the announcement on Truth Social. As Louise Kelly of Deloitte Ireland points out, “there is no reference to existing trade agreements in President Trump’s post. So, confirmation from the US that it agrees with the EU position is something we’ll be waiting for.”

3. 54% of Irish workers now view AI skills as career-enhancing, with turnover and demands for flexibility both rising sharply.

New insights from Microsoft Ireland reveal Ireland’s workforce is navigating a period of transformation: the Microsoft Ireland Work Trend Index 2025 is based on a nationally representative survey of 1,000 Irish workers, conducted annually as part of a general population study, ensuring a demographic balance year-on-year. The results show that AI is emerging as a career catalyst, while job turnover hits a record 38%, according to the respondents who took part in the survey, while workplace satisfaction trends marginally downward.

With AI adoption up 27% year-on-year, 41% of workers say it helps them work smarter, 50% believe AI skills are critically important to remain competitive in the job market, while 54% say having these skills will broaden their job opportunities. Additionally, 40% believe knowing how to use AI at work will help them get promoted faster, and 34% say AI has made them consider other career paths. Yet, this optimism is tempered by uneven access and training gaps, with over half of workers calling for structured or employer-led AI training to help speed adoption.

“Ireland is at a turning point. As AI transforms the world of work, Irish employees and employers are navigating rapid change and new opportunities,” Catherine Doyle, general manager of Microsoft Ireland said. “The message from workers is urgent and clear: they want the tools, support and skills to adapt. Organisations that embrace AI and invest in inclusive training will be best placed to lead in productivity, innovation and resilience.”

4. In an op-ed, Irish Funds urged urgent reforms to preserve Ireland’s competitiveness in global asset management.

In a piece in this month’s Business Post, Irish Funds CEO Pat Lardner highlighted why urgent action is needed to ensure Ireland’s funds and asset management sector stays ahead of the pack. Key areas requiring action include boosting private market investments, modernising the regulatory framework, leveraging technology for innovation, and enhancing financial literacy for retail investors. “Ireland has established itself as a trusted global hub – but with intensifying competition and fast-growing opportunities, we must act now to safeguard competitiveness, unlock investment, and support growth across the economy,” it read. “The sector already supports tens of thousands of highly skilled jobs across the country — from Dublin to Cork, Limerick, Kilkenny, Galway, Wexford and beyond – making its continued success vital.”

This message aligns with Irish Funds’ ongoing engagement with government stakeholders and the priorities outlined in their Pre-Budget 2026 submission, which focuses on unlocking new opportunities to drive long-term competitiveness and growth. To remain competitive, Lardner says. Ireland must implement targeted regulatory and tax changes as well as quickly transposing key EU legislation to create a level playing field. Ireland has the talent, infrastructure and track record, he concludes. He says what we need now is “the policy certainty and momentum to match.”

The article in full can be found here.

5. Inflation & Employment.

As mentioned, inflation hit a 20-month high this month. When looking at the components of the flash HICP for Ireland in September 2025, energy prices are estimated to have declined by 0.3% in the month and grown by 1.0% over the 12 months to September 2025

In September 2025, the seasonally adjusted unemployment rate was 4.7%, unchanged from August 2025. Breaking down the results by sex, the monthly unemployment rate for males in September 2025 was 4.8%, down from 4.9% in August 2025, and up from a rate of 4.1% recorded in September 2024. The monthly unemployment rate in September 2025 was 4.5% for females, unchanged from August 2025, and up from 4.2% in September 2024.

6. Barack Obama embarked on a speaking tour, visiting London and Dublin.

A little bit of a pivot from Moneygall and the Obama Plaza, former President Barack returned to this side of the world to discuss current global challenges with prominent journalists, like Fintan O’Toole. While in Dublin, Obama was awarded the Freedom of the City by Lord Mayor Ray McAdam at a ceremony in the Shelbourne Hotel. Obama was presented with a first edition of Ulysses and a bottle of Teeling Whiskey. He said he accepted the honour with “deep humility”.

“These are, undoubtedly, times of great challenge and great change. But it is in moments like these that we are reminded of who we truly are. We are people, the Irish and Americans, who never stop imagining a brighter future for us all,” he said, according to the BBC. “That defiant, enduring hope has always been an unshakeable bond that connects our two countries, and so many others around the world.”

7. Europe won the Ryder Cup.

A big month for golf fans as Team Europe secured a historic 15–13 victory over the US at Bethpage Black, marking their first away win since 2012. The triumph was ushered in by Shane Lowry, whose decisive putt ended a nail-biting finish. Sky Sports reported a record-breaking 8.8 million viewers for the weekend, but by far and away the biggest story from it, however? Hostile crowds who threw beer cans and hurled insults at the players. McIlroy and Lowry, in particular, received crude barbs at Bethpage, with Lowry having to be restrained from confronting a fan on the 10th tee. McIlroy, who was forced to back away from shots, described the whole experience as a “really challenging day”.

8. Ireland experienced its warmest summer on record.

In news that will surprise no one, Ireland’s summer was hot(ter than ever). Human-caused climate change made warm summer nights 40 times more likely, according to a study by Met Éireann and Maynooth University.

Other key findings include:

– Climate change has increased the frequency and intensity of extreme weather events.
– Climate change is adding fuel to storms due to warmer waters and more moisture in the atmosphere.
– Irish rainfall patterns are expected to change, with an increase in both dry periods and heavy rainfall events.
– There is high confidence that maximum rainfall rates will increase due to a warmer atmosphere carrying more moisture.
– As climate change continues to drive global temperatures upwards, similarly warm summers are set to become more likely and average temperatures are set to increase yet further.

9. M&As.

Here are some of this month’s highlights:

Eversheds Sutherland integrated its Ireland practice into its international business

This happened as part of its strategic goal to build market-leading capabilities in key jurisdictions. Effective from 15 September 2025, the practice in Ireland will see an initial 26 partners and 170 colleagues join the International firm as a financially integrated practice with offices in Dublin and Belfast.

F5 acquires CalypsoAI

Early in the month, F5 announced an agreement to acquire CalypsoAI for approximately USD $180 million, with the deal closing officially on September 29. The deal will be primarily financed with cash, and according to F5, it is expected to have a minimal impact on revenue and operating results in the short term. The transaction integrates CalypsoAI’s enterprise-ready “test–defend–observe” stack into the F5 Application Delivery and Security Platform (ADSP), to protect applications, APIs, as well as models and agents.

HealthPoint Pharmacy Group expands

HealthPoint Pharmacy Group has completed the acquisition of four new pharmacies: Farrell’s Pharmacies in Ballivor, Longwood, and Trim, and O’Donovan’s Pharmacy in Tullamore.
This brings the Group to 11 pharmacies across the Midlands and East, with a strong pipeline of additional stores preparing to join in the near future. HealthPoint’s vision is to double in size by 2030 while staying true to its motto: “Family Pharmacies. One Trusted Name.”

Cornmarket buys Marsh Ireland’s personal lines insurance business

Public sector financial services broker, Cornmarket, has bought Marsh Ireland’s personal lines insurance business. Cornmarket currently works with over 40 public sector trade unions, associations and employers and has over 50 years of experience in the Irish insurance market. According to RTÉ, it said its latest acquisition supports its long-term growth strategy by expanding its presence in the personal lines insurance sector, while it also enhances its ability to serve its existing 240,000 public sector customers, as well as broadening its customer base across Ireland.

In summary…

There’s a lot to be said for September, really. Most will link it with a fresh start – be it a time to buy fresh copybooks or a minute to breathe as the summer closes in. A number of people haven’t had a minute to breathe, however. There’s Chloe Malle, the new editor of Vogue, Keir Starmer, a man set to be the least popular prime minister of all time, and of course, Ireland’s fresh crop of presidential hopefuls – a number of whom are right in the thick of their respective campaigns.

For a contest that started with McGregor, continued with an onslaught on Garth Sheridan and came close to an end with a naive Joanna Donnelly, it appears that the drama has not finished just yet: Jim Gavin has been dealing with a number of smears against his name, (subsequently exiting the race due to his renting scandal), and Heather Humphries has been routinely quizzed about animal abuse and her alleged connections with it, fox-hunting chief amongst them, but has yet to give an answer. At present, Catherine Connolly is winning by a whisker, but will that change by the next time we chat? Only time will tell.

What won’t change, however, is that generational pintman and lovable athlete Shane Lowry won it for Team Europe. At a time when stakes were high and morale was low, Lowry cast aside the dogs abuse he and his team received from the spectators to sink the all-important putt to retain the Ryder Cup. Now, if that isn’t a guide to how to be presidential, I’m not quite sure what is.

See you next month!

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