DUBLIN - Ireland expects inflation to slow to 2.5% in 2024 from just under 5% in 2023 and that the domestic economy will grow more this year than the 1.2% previously expected, Finance Minister Michael McGrath said on Tuesday.

"It (inflation) will be below 5% this year, falling to around 2.5% next year but of course core inflation does remain a real concern and we are seeing an employment market that remains very robust," McGrath told national broadcaster RTE.

McGrath's department will publish updated economic forecasts later on Tuesday.

(Reporting by Padraic Halpin and Conor Humphries; Editing by Andrew Heavens)