{
  "id": 9029608,
  "title": "2024 minimum wage increase led to modest price increases",
  "url": "https://urgent.news/2026/09/21/2024-minimum-wage-increase-led-to-modest-price-increases",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T23:01:00.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/2026/0922/1592431-esri-minimum-wage/"
  },
  "original_language": "en",
  "account": "A new study from the Economic and Social Research Institute (ESRI) suggests that the 2024 minimum wage increase led to modest price increases in certain sectors, according to a press release. The research, funded by the Low Pay Commission, examined the impact of minimum wage hikes on consumer prices in industries with a high concentration of minimum wage workers. The study found that for most minimum wage increases since 2016, there was no detectable effect on prices. However, the largest minimum wage increase to date, implemented in January 2024, resulted in a 2.5% rise in prices across specific categories such as hairdressing, takeaway coffee, takeaway meals, and restaurant meals. This increase, which raised the minimum wage from €11.30 to €12.70 per hour, was the most substantial in Ireland's history. Researchers concluded that while the 2024 minimum wage rise was associated with modest price hikes, other economic policies and events like VAT adjustments and the Covid-19 pandemic had significantly larger impacts on prices. Dr. Paul Redmond, co-author of the report, noted that the findings demonstrate most recent Irish minimum wage increases have not led to higher prices, except in this case. Ultan Courtney, Chair of the Low Pay Commission, emphasized that the research provides valuable data for the commission to make informed decisions in complex economic conditions. The Low Pay Commission has recommended a 5.6% minimum wage increase, which would raise the hourly rate from €14.15 to €14.94. The Government will announce any changes on Budget Day.",
  "summary": "The minimum wage increase which was implemented in 2024 led to some modest price increases, according to a new study from the Economic and Social Research Institute (ESRI).",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}