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Friday 9 June 2023 Dublin: 16°C

# cost of living crisis

Last month
May 2023
# Price Hikes
Sudden drop in bread prices by some supermarket chains blasted as a 'PR exercise'
The price cut came just hours in advance of an urgent Retail Forum meeting to discuss food prices.
# Inflation
Government holds discussion with retailers over prices as Tesco and Aldi cut bread by 10c
Opposition parties have been pressuring the Government to bring transparency to food prices and profits made by the industry.
Junior minister Neale Richmond will meet large retailers at 2pm this afternoon.
Earlier today, Tesco and Aldi announced a 10c cut in the price of their own-brand bread.
This year
# cost of living crisis
Milk prices cut by four supermarkets within hours of each other
One TD said there has been a “race of publicity” among supermarkets since reductions were announced yesterday.
# Cost of Living
€200 cost-of-living payment to be given to 1.3 million people this week
The payment was part of a cost-of-living supports package announced in February.
# Higher Education
Rise in students facing 'serious financial hardship' as average expenses surpass income
Those experiencing serious financial difficulties rose from 26% to 33% in two years.
# intervention
Finance Minister 'not ruling out' additional measures to help people deal with cost-of-living
However, Michael McGrath said that it was important to wait until Budget 2024 before implementing any such measures.
# cost of living crisis
Nearly two-thirds of renters say rising costs have affected their ability to purchase property
55% of prospective homebuyers also point to rising costs as a stumbling block to finding a property.
# your stories
How are you managing your electricity bills? We want to hear your stories
We want to get a sense of how Irish households are coping with electricity prices – here’s how you can take part.
# rising costs
Minister indicates targeted and universal cost-of-living measures on the cards as talks intensify
Taoiseach Leo Varadkar has said he plans to make announcement about new and extended cost-of-living measures in mid-February.
The squeezed middle: What we should learn from the Great Recession of 2007-2013
By studying and learning from the effects of the Great Recession, policy makers can gain valuable insights into how to respond to the cost-of-living crisis.
# technical error
Electric Ireland error means PAYG customers have avoided higher gas rate since August
The energy company says customers will have to pay the current, higher rate for their gas from 24 January.
Last year
# toll charges
Taoiseach says transport minister examining 'how best to deal' with rise in toll charges
Eamon Ryan said earlier this week that he is reluctant to reduce toll charges.
# Ryanair
Ryanair returns to profit and doesn't expect to be impacted by cost-of-living crisis
Michael O’Leary said concerns about rising consumer price inflation on Ryanair’s business model ‘have been greatly exaggerated’.
# cheap cuts
Irish shoppers turn to cheaper cuts of meat in light of cost of living crisis
Shoppers are moving into cheaper protein meats and cheaper cuts, said one retailer’s spokesperson.
# Price hike
Prepay Power increases electricity rates for the second time this year
The pay-as-you-go provider is not increasing its gas prices.
Average private rents have increased by 84% over the last decade, report finds
The report by the Economic and Social Research Institute also found that income inequality is at a record low.
# cost of living crisis
Protesters march in Paris to demonstrate against cost-of-living crisis
Marchers took to the streets to demand better pay and windfall taxes on energy companies.
# Inflation
Inflation has reached 8.6% since start of 2022, but lower than Eurozone average
The Eurozone average reached to 10% followed a 9.1% rise in August.
# cost of living crisis
Varadkar 'does not envisage' mini-budget as Taoiseach but can't rule out further intervention
The Tánaiste said €2 billion from the ‘rainy day’ fund could be used to help with rising living costs.
Analysis: Dysfunctional housing policy is failing a generation of renters
Economist Victor Duggan looks at the rental policy failures that have brought us to the current crisis.
Opinion: The cost of living crisis is eating into disposable income - can Budget 2023 help?
Financial advisor Ralph Benson has some tips in relation to pensions and savings to be made ahead of Budget 23.
# inflation crisis
'Situation has deteriorated': Protecting businesses and jobs top priority, says McGrath
Tánaiste Leo Varadkar met 40 business representatives for a pre-budget meeting yesterday.
# cost of living crisis
Majority of young people considering moving abroad for better quality of life
Over eight in ten are also ‘fearful for the future’.
# budget 2023
Coveney says government is 'ruling nothing out' in response to cost-of-living crisis
The Foreign Affairs Minister warned “this isn’t a crisis that is going to go away quickly”.
# FG Think-In
Fine Gael think-in to focus on how the party can 'stand up for working people'
The party will gather in Kilkenny today to discuss income tax cuts, pension and social welfare hikes and public transport fares.
# Cost of Living
Some applicants waiting up to 8 weeks for emergency welfare payment
Sinn Féin’s Claire Kerrane has called the timeframe ‘frightening’.
95% of applications are taking between five to eight weeks to fully process the payment.
The Additional Needs Payment can be used to cover basic necessities such as food, clothing, fuel, fixing white goods like washing machines and utility bills.
St Vincent De Paul says more resources are needed in frontline services so those in need can get payments in a timely manner.
Jump in emergency welfare payments reflects what's happening on the ground for families, says SVP
17,000 apply for emergency social welfare payments for food, fuel and clothing in July alone
# wage hike
Low Pay Commission recommendation for minimum wage increase to go to Cabinet in September
The current national minimum wage stands at €10.50 per hour.
# Cost of Living
€22.7 million paid out so far this year on emergency social welfare payments
The Government has provided funding of €45.75 million for the additional needs payment this year.
Jump in emergency welfare payments reflects what's happening on the ground for families, says SVP
Sinn Féin’s Social Protection, Claire Kerrane says people should be able to apply for the payment online, rather than by post or in person.
# cost of living crisis
'Substantial income tax reductions' pledged in Budget 2023
A third rate to target middle-income workers is one option outlined in the Tax Strategy Group papers.
# cost of living crisis
Pinergy to hike electricity prices by 19.2% from September
The company said the increase was a result of ‘volatile and upward pricing trends in the wholesale energy markets’.
# cost of living crisis
Budget aims to help 'most vulnerable' and the 'squeezed middle', says McGrath
Cabinet could decide next week to bring the Budget forward to the end of September.
# Cost of Living
Eamon Ryan 'wouldn't object' to bringing Budget forward to September
The Minister for Transport said the matter will be discussed at Cabinet next week.
# cost of living crisis
Researchers call for action to address health inequalities in light of cost of living crisis
Health experts from three universities have said that the cost of living crisis, will disproportionately affect the health of the most vulnerable people in Ireland.
# fuel costs
Petrol prices rise over €2 per litre mark following EU announcement of Russian oil ban
Head of communications at AA Ireland Paddy Comyn told The Journal that prices are at a record high.
# Energy Crisis
New energy security plan outlines how Ireland will offset prices and 'potential shocks'
Reduced VAT, extra fuel allowance, and €20 million towards solar panels for households with medical equipment are among the new measures.
# Cost of Living
Lower-income customers face 'real difficulty' from rising energy bills, says regulator
The chair of the Commission for the Regulation of Utilities said it is exploring every option.
# cost of living crisis
Fuel allowance recipients to receive once-off bonus payment of €125 from today
The once-off payment is means-tested and is available to pensioners, widows, widowers, jobseekers, lone-parents and people with disabilities.
# transport minister
Eamon Ryan says 'a practical example' to cut fuel consumption is to drive slower
The minister said a range of advice for households is to be prepared by the SEAI.
# cost of living crisis
The €200 electricity rebate should be applied 'next month' as President Higgins signs law
The government is also providing advice to customers who hardship prepay meters.