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Consumer Champion: Any help with soaring inflation?

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With the cost of living inevitable rising, the prices of almost everything will continue to rise, from fuel to food and holidays to healthcare.

Special risks, we said, mainly due to Russia’s invasion of Ukraine, are our gas supplies, oil prices (depending on gas pumps and indoor heating), and food such as bread and other goods. But in reality, inflation has outlived Putin’s farce has become a terrible reality and the European Central Bank is disgusted. implement policies to limit it, such as raising interest rates.

We don’t have this under control in Ireland anymore, so our headline inflation is skyrocketing. Russia’s war in Ukraine was simply straw that finally broke the camel’s back.

The truth is that we don’t supply enough basic ingredients here and have to import most of the flour, sugar and other stuff – including beer (hops is the main ingredient). Ukraine is a major supplier of many of these items, along with nickel and other metals used to supply computer chips, among other things, computers and electric cars.

In response, the Government, keenly aware of voters and wanting to avoid small budgets, launched a ‘Cost of Living’ package to provide immediate financial assistance to those most at risk, although a Some measures will apply to everyone. .

So here’s what we know will be in place later this month or early April. There may also be other measures as things progress, so make sure you stay up to date with the changes. , as pressure to maintain income standards will continue.

Electricity subsidy

Each household (as we were told it is not possible to directly target those with lower incomes), will receive a subsidy of €200 towards their electricity bill. In fact, the specific amount is 176 €. The remainder is made up of the VAT discount. It is not vehicle-tested, and currently, is a ‘one-time’ credit.

In fact, it does help with heating costs but since not everyone has gas or oil, it makes sense to pay for electricity in every household. It will land in early April. Since most people pay their bills every two months, it won’t go into effect until the next billing cycle. Any unused amount can be carried forward until the discount runs out. If you pay your electricity bill in advance, €200 will automatically be added to your credit.

What should I do? Is not. It is being processed directly with energy suppliers and will appear on your next bill as a “Government Electricity Credit”.

Fuel allowance

If you were one of the 390,000 families receiving fuel subsidies, you should have received an extra €125. If not, it will be paid by the end of this week.

What should I do? Is not. If you have already received this benefit, the increase will be made directly.

Gasoline / Diesel

The government is reducing some of the big taxes they put on fuel. It claims it wants to avoid ‘price gouging’ at the pumps, but in reality it is the biggest beneficiary, consuming up to 55pc per liter of petrol and 51pc from diesel.

It is currently offering back 15c (diesel) and 20c (petrol) per litre. However, when the measure was announced, there was protest from some retailers, with garages being ‘named and shamed’ online for raising prices ahead of the measure, which went into effect at midnight on Thursday. Fourth of last week.

Economists like Professor John Fitzgerald of TCD tell me that prices could simply rise again as supply continues to tighten from oil-producing countries. Although countries like Saudi Arabia can significantly increase their oil supply, this is unlikely to do so, as it would reduce the price they receive.

Petrol, the most volatile commodity, can even rise to almost €2.50 per liter if The war in Ukraine continues.

What should I do? Follow local garages for prices. Use a site like Pump.ie that is updated by motorists. Drive slower, advises Transport Secretary Eamon Ryan, while taking advantage of lower public transport fares (see below) could make buses a better choice.

Drug payment plan

The threshold for DPS is being lowered to €80 as a new long-term measure. This helps people (and families) take long-term medication for chronic conditions. This is the maximum any family will have to pay for prescription drugs. Medical card holders continue to pay only individual fees.

What should I do? If you are not already registered for DPS, ask your pharmacist to do it for you.

Payment for working family

From April 1, the new €10 increase announced in the final budget will come into effect. This has been in place since June 1 due to increased financial pressures on vulnerable families.

What should I do? Is not. WFP gain will automatically be credited if you are subscribed.

Public transport

From April 1, there will be a 20pc reduction in the cost of tickets on bus, rail, Luas, Dart and local affiliated services through the end of the year.

Five ways you can save

1. Switching You can’t control the price, so look for deals. Free utilities, refunds, discounts, etc. to move suppliers will help pay the bills.

2. Drafts Old fashioned windscreens on doors and windows cut down on energy escaping.

3. Temperature Keep the thermostat at 19 degrees. Turn off the heat in rooms not in use. Use electric bar heaters only if heating single rooms. Heat the upper deck to a lower level.

4. Fabric Natural fibers such as wool, silk, and cotton keep you warmer in layers than synthetics.

5. Heating Heating water is a huge use of energy. Instead, wash clothes/dishes on the lowest temperature with a better detergent.

https://www.independent.ie/business/personal-finance/consumer-champion-what-help-is-on-hand-as-soaring-inflation-bites-41442377.html Consumer Champion: Any help with soaring inflation?

Fry Electronics Team

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