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IT’S HARD TO know whether rising prices are going to be a feature of the Irish economy for weeks, months or — as Tánaiste Leo Varadkar suggested this week — years, potentially.
But to some extent, that’s an academic discussion. The fact is that we are all, at the moment, feeling the current wave of pandemic-linked inflation in our pockets and noticing it in our monthly bills.
Irish household electricity prices are mostly to blame for the higher-than-expected headline inflation figures we’ve seen in recent months.
Petrol, diesel and home heating oil prices have also been turbo-charged by a strong global rebound in demand for crude oil as economies continue the process of unwinding Covid-19 restrictions.
Meanwhile, some 37% of people surveyed by Red C on behalf of the Society of St Vincent De Paul last month said they were already cutting back on essential heating and electricity spending.
Almost half of the unemployed people and single parents polled said they had cut back on essential heating and electricity.
To cushion the impact of these situational drivers of inflation, the Government will today announce a package of measures aimed at protecting low and middle-income households.
An extension of the fuel allowance and an increase to the €100 energy credit announced before Christmas are both on the cards.
But with Irish rents, house prices and childcare costs all well above the European Union average, it’s clear there are longer-term factors working to push up the cost of living in Ireland.
Are you facing any of these challenges at the moment? If so, we want to hear from you.
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Cost of living or the cost of tax in Ireland?
Fuel tax
Property tax
USC
Gas + electricity tax
Tv Licence
Car tax
Highest paid politicians in the world
Some of the joys
@Robbie Coogan: Nothing stopping you running in the next general election and maybe becoming one of those high paid politicians.
@Roy Dowling: How would one go about this?
@Football in the Groin: you’ll find a way
@Roy Dowling: I don’t think the solution is in becoming part of the problem.
@Robbie Coogan:
Reducing taxes is all well and good but when businesses can slap *unlimited* price tags on (necessary) products then the problem isn’t fixed.
@Dean:
Target where you drop tax.
Fuel would be a start.
Food in this country is very cheep.
And that’s from a guy I work with is from Poland.
If you drop fuel prices you drop other prices
Can’t afford Dublin or can but banks say we can’t so live in Carlow but me and my wife spending over €100 each on diesel driving to Dublin everyday … makes me sick that goverment have a 65% tax on every litre
Dutch Gold has become a luxury.
Yes I am
With regards to the question of how long inflation will be with us – it won’t be going away.
True that it is being driven by energy costs in the most part and equally true that energy prices globally will gradually decrease. With a bit of luck we will see a return to more normal prices in relation to energy BUT
They will not go back to pre-pandemic prices and non energy related prices will likely not reduce at all – increases become absorbed into the system and just become the new norm. Inflation will stop increasing (towards the end of this year according to the markets) but it won’t reduce, the rate of increase will just slow.
Look at petrol vs oil prices as an example $90/barrel of oil at the moment and €1.70 per litre of petrol
2009 – $150/barrel of oil and petrol was max €1.30
If we go back to $150/barrel we’ll be looking at €3.00 per litre at the pumps – more than twice the 2009 price.
@Lee King Buckett: That’s cheap! Move to Holland with €2+ pricing for petrol and diesel. And road tax at minimum twice as high, and higher prices of vehicles as well.
The rental market needs an overhaul to start with.
@FliepFlap: But it’s not the base price that’s the issue, it’s the relative increase.
@FliepFlap: affordable rents in Holland agreed
Vote for the politicians that rejected the pay increase last year, Votáil Sinn Fein. They’re the only ones who’ll bring about any change for the ordinary person. Vote for a party that will make home ownership a realistic possibility rather than a dream
So the government’s answer is to spend our tax money to help us out
Nope
@Ger Cassidy: Same although I understand that there are those who are and I try to help people I know.
Talk to those on disability, payment recd is below poverty line… Even when there r extra costs to pay. I want to do home dialysis, but with rising energy costs I don’t know if I can afford it. Dialysing at home reduces cost to HSE by half
I have paying rent on time for the past 20 years with proof which equates to less than half of mortgage repayments on owning my own home. Banks won’t accept this as proof of ability to pay back a mortgage. They can all get lost
Nope
No
Due to the absence of turf the price of puppies has gone through the roof.
All good here .
Not struggling as such just yet but definitely feeling the pinch.
The cost of my passport has gone down..Oh joy.
I have paying rent on time for the past 20 years with proof which equates to less than half of mortgage repayments on owning my own home. Banks won’t accept this as proof of ability to pay back a mortgage. They can all burn in hell
Never, in all of FIAT currency history, have Central Banks
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