Is inflation moderating? - Newstalk
After an extended period of rising inflation, new data is beginning to show that price rises are slowing down.
Daragh Cassidy, Head of Communications at bonkers.ie, appeared on Newstalk to discuss consumer prices, and where they might be headed in the near future.
Listen to the interview above or look at the main points discussed below.
Main points from the interview:
- It is important to note that when inflation falls, it just means that the rate of price increases is slowing, rather than things becoming cheaper.
- Deflation is the situation where prices actually fall, and is currently not forecasted by any experts. Deflation can also come with wider negative economic effects.
- The restoration of fuel excise is going to hit people’s pockets this winter, potentially adding 15 cent to a litre of petrol and 11 cent to a litre of diesel.
- There is some evidence of price gouging by large corporations higher up the supply chain, potentially contributing to inflation.
- Airfares have also risen by 34% over the past year.
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