# Cost of Living
This week
26th March 2023 - 28th March 2023
Voices
Analysis: We know of 'shrinkflation' but what role is 'greedflation' playing in our economy?
Economist Victor Duggan wonders if it is a profit-price spiral that is driving inflation.
Last week
19th March 2023 - 25th March 2023
# energy costs
Ryan says windfall tax will help with electricity bills, but fails to commit to more energy credits
It is intended that the legislation would be enacted before the summer recess and first proceeds are expected to be collected in September.
This month
March 2023
# Consumer Price Index
Cost-of-living: Annual rate of inflation rises slightly to 8.5%
The CSO Consumer Price Index rose by 8.5% between February 2022 and February 2023.
# Evictions
Sinn Féin TD says rent 'emergency isn't over' as eviction ban set to expire this month
Louise O’Reilly has called for the eviction ban to be extended, while Cabinet is due to discuss the ban on Tuesday.
THE MORNING LEAD
'Harder and harder to make ends meet': Your stories about coping with high energy costs
Readers have detailed their experiences in dealing with high energy prices.
Last month
February 2023
# drop the prices
Varadkar says windfall tax is coming and calls on energy companies to drop their prices
The Taoiseach says Government won’t just be using ‘politie encouragement’ to get prices down.
Voices
Analysis: Government supports are welcome but will they improve living standards long-term?
Taking the temperature of the global economy, Economist Victor Duggan asks whether government support offered this week will be adequate.
# fuel costs
Excise duty cuts on petrol and diesel to remain for now - but it will increase from June
The Cabinet today agreed a range of cost-of-living measures.
# Cost of Living
The government has announced a new cost-of-living package. Here's what's in it
The new cost-of-living measures were confirmed today.
A once-off €100 child benefit payment and a €200 lump sum for social welfare recipients will be paid out.
The State exam fees - for the Junior and Leaving Certificate - are again being waived.
The 9% VAT rate for hospitality and tourism will continue until 31 August.
# Fraud
Public warned not to click on scam link claiming to be for 'electricity benefits'
The link is circulating after details of a new cost of living package emerged yesterday evening.
# Cost of Living
€100 child benefit bonus and €200 lump sum social welfare payment under cost-of-living measures
The social protection measures have running cost of €400 million.
# Cost of Living
Govt expected to sign off on cost-of-living package next week following 'good discussion'
It comes after the Tánaiste accused Sinn Féin of “clever politics” in the Dáil during a tense exchange over the upcoming package.
# Cost of Living
Cost-of-living: Annual rate of inflation drops again slightly to 7.8%
The Consumer Price Index (CPI) rose by 7.8% between January 2022 and January 2023.
# Cost of Living
Taoiseach: Upcoming cost-of-living package will not be on the scale of a mini-budget
Taoiseach Leo Varadkar confirmed that there would be both targeted and universal measures within the package.
# Cost of Living
Taoiseach says windfall tax 'well advanced' and will be used to help families and businesses
A number of existing supports are due to expire at the end of the month.
# Cost of Living
Upcoming cost-of-living package to contain 'social welfare and pensions' element
Ministers will meet this week to discuss the detail of what measures should be extended.
# Cost of Living
All electricity customers to get €90 off bills over seven instalments
Customers normally have to pay a levy to fund renewable energy, but when electricity prices go up this levy is not needed.
January
January 2023
Varadkar says he'll reveal plans for eviction ban and cost-of-living supports in mid-February
The Taoiseach said it is ‘fair to say that the rising cost-of-living is biting hard’.
# Cost of Living
Plan to abolish public hospital charges to come before Cabinet later
Currently patients can face a charge of €80 per day with an annual cap of a maximum of 10 days costing €800.
# 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.
# Cost of Living
Rate of inflation drops slightly to 8.2% in the year to December
That’s down from an increase of 8.9% in the 12 months to November 2022.
Taoiseach: 'No cliff edge to cost-of-living supports at the end of February'
Discussions will take place in the coming weeks on what further supports will be needed.
# CHRISTMAS SHOP
Inflation led to surge in Christmas grocery spend compared to 2021
On average, shoppers spent an additional €95.31 when compared to the last three months of 2021.
# Cost of Living
Government to consider extending cost-of-living support measures beyond February
Varadkar said he wanted to avoid a ‘cliff edge’ scenario when a series of schemes and reductions are scheduled to stop.
Last year
2022
Voices
Financial expert: Three steps to helping you fight the rising cost of living
Mark Coan of Money Sherpa has some handy advice for anyone hoping to get a handle on their finances.
# Electric Ireland
Electric Ireland to give all residential customers €50 credit
Pay-as-you-go customers will receive the credit this week, and bill-pay customers will see it in January.
# Cost of Living
'They're facing grave choices': Survey shows cancer patients cutting back on heating over costs
The Irish Cancer Society said it’s “the reality of having cancer in Ireland today”.
Cost-of-living pressures will persist in 2023 but Ireland should escape a recession, ESRI says
Authors of the report said there was ‘clear evidence of a slowing pace in the economy’.
# Price Hikes
Energy costs: Pinergy to increase electricity bills by 14% from January
This increase is expected to add approximately €320 to electricity bills for Pinergy customers.
# energy costs
Information booklet on how to reduce energy use will be delivered to over two million households
It’s part of the Government’s response to the unprecedented challenge facing families.
# toll charges
Alternative option to toll increases will have to be found before the new year, says Tánaiste
Discussions are ongoing on how to alleviate the rising cost for commuters.
# 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.
# Energy Crisis
Cabinet green lights windfall tax on energy companies
Revenue above a certain cap will be collected and used to support consumers facing expensive bills.
# budget 2023
Four Cost of Living lump sum supports to be paid to over 800,000 people this week
Payments totaling €325 million will be made this Wednesday, Thursday and Friday.
# Protests
'People are in real crisis': Cost-of-living protests take place across the country
The Cost of Living Coalition said the protests will ‘send a clear message that the budget is not enough’.
# Heineken
Heineken to hike keg prices by 9% due to 'significant' rise in production costs
The increase is equivalent to a 17 cent rise in the price of a pint, before VAT.
# 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.
Voices
Analysis: We can expect to see interest rates continue to march higher this week
Economist Victor Duggan looks ahead to the expected ECB rate hike tomorrow.
# Chaos Costs Lives
Protestors stage sit-down protest inside the Houses of Parliament about cost of living crisis
The demonstrators took part in the protest in the central lobby of the Palace of Westminster, some with a Greenpeace banner reading “Chaos Costs Lives”.
