A major new report has found that the rising rate of labour costs threaten to push up prices in housing and childcare.
The study from the National Competitiveness Council focuses on key issues which face the Irish economy.
Ireland is the fifth most expensive country in the EU while the cost of business here is also on the rise.
According to a new report from the National Competitiveness Council, wages have increased by 2.9 percent in the past year - which is four times faster than other prices in the economy.
The report warns that without similar increases in productivity, the cost of essential consumer products like housing, rent and childcare could be driven up.
It says that with Brexit looming it's more important than ever that Ireland remains competitive.