Summary Q4 2023
Irish Economic Trends
The latest Central Bank quarterly report for 2023 says that modified domestic demand is predicted to increase by 1.5% in 2023, 2.5% in 2024 and 1.9% in 2025.
Inflation
Inflation in the eurozone was 2.9% in December 2023, a decrease from 4.3% at the end of the previous quarter. Food, alcohol and tobacco has seen the largest increase at 6.1% when compared to the same month last year.
Chemist Warehouse opens New Store
Global pharmacy retail chain Chemist Warehouse, which launched its first store in Ireland in October 2020, has opened its ninth Irish store. The new store is located in Westend Shopping Park, Blanchardstown, Dublin.
Government plans to Expand Prescribing
Following calls for pharmacists to be allowed to substitute medicines without GP oversight, a proposed new bill
will allow pharmacists to extend prescriptions up to a maximum of 12 months if they consider it safe and appropriate to do so.
Global Economic Trends
Pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates have forced the IMF to cut its global growth forecast for 2023 to 2.7%, compared to a 2.9% forecast in July
