Price Rises Putting 'Impossible Pressure' on Working People

10 Mar 2011

Congress warned today (March 10) that rising prices are putting "impossible pressure" on working people and said the upward trend is likely to continue as interest rates and commodity prices increase.

Congress Economic Advisor Paul Sweeney said the latest inflation figures confirmed the upward trend, with prices rising for the seventh straight month in a row.

"This is putting impossible pressure on working people in Ireland," Mr Sweeney said, "where overall price levels are already some 26% above average price levels in the EU, according to Eurostat data. And we can now expect further increases in interest rates and in commodity prices along with the proposed rise in VAT.

"The incoming Government needs to bear this increased cost of living in mind, when framing policy," Mr Sweeney said.

 

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