DAVY VIEW

We expect that Ireland’s inflation rate for August likely remained at about 3%, although upside risks to this include a faster increase in energy prices. With Apple’s corporation tax due this month, there could be a boost given a strong result in March, favourable base effects, the new 15% rate and the firm’s robust revenue growth. More broadly, a favourable result for the Irish economy in Q2 is likely, driven by consumer spending and modified investment.