The cost-of-living-adjustment for next year is likely to be one of the lowest in several years due to low inflation, with social partners predicting it will be €1.16 per week.

This is the result of four months of deflation in a row and a minimal inflation rate throughout the rest of the year.

The wage increase is worked out using a formula based on the Retail Price Index, which measures price fluctuations of a number of products and services during the year through a system of weighting.

Although this is not the final figure, which is to be announced in the Budget 2015, social partners do not foresee any substantial change, although the retail price indices for September and October have still to be factored in.

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