A reduction in economic growth has been forecast by IBEC, the group that represents Irish businesses.
Its latest Economic Outlook report predicts growth of 4.3% for the year ahead.
This falls short of the 6.1% that was previously estimated for 2022.
IBEC's Ger Brady says this is going to effect both households and businesses alike.
"Households, because they're spending more in meeting the costs of their energy bills, are going to spend less on disposable, optional products like going out and services.
"Secondly, we hear from lots of our members now that because of rising energy prices, and rising economic uncertainty including rising interest rates, that we're going to see a slow down in economic investment."
