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Inflation Reaches Highest Rate in Almost 40 Years

Inflation is rising at its fastest rate in 38 years. Central Statistics Office figures show the cost...


Inflation Reaches Highest Rate...

News

Inflation Reaches Highest Rate in Almost 40 Years


Government Support Plummets

Inflation is rising at its fastest rate in 38 years.

Central Statistics Office figures show the cost of living rose by 9.1 per cent in the year to the end of June.

It comes as support for the Government has plummeted.

It's the largest annual increase in the Consumer Price Index since 1984.

Tánaiste Leo Varadkar says the Government needs to be careful in its response.

"What we have to do is get inflation down - and not fan the fires of inflation," he said.  "That won't help anyone in the long run."

Fuel has seen the biggest cost jumps, with electricity up 40.9%, gas  up 57.2%, and liquid fuels / home heating oil up 115.4%.

It comes as an Irish Times opinion poll shows a sharp drop in support for the Government, in particular Fine Gael and Fianna Fáil.

Fianna Fail is down 3 points to 20% and the Greens are unchanged at 3 %.

The Irish Times/Ipsos poll also show Sinn Fein has hit a record high - up 3 points to 36%.



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