The latest inflation figures for the Irish economy further highlight the urgent need for the Government to introduce targeted energy supports to assist struggling households, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan said:
“The latest Harmonised Index of Consumer Prices (HICP) indicate that prices rose at an annualised rate of 3.6 per cent in March – up from 2.5 per cent in February. This has been driven by skyrocketing energy prices, which increased by 11.1 per cent in the month and were up by 12.3 per cent over the 12 months to March.
“While last week’s cut to excise duty to bring down prices at the pumps is welcome, this is simply not enough to provide the help that is needed to those who are struggling with energy bills.
“Even before the latest conflict in the Middle East – precipitated by the illegal attack on Iran by the United States and Israel – there were more than 320,000 people in arrears with their electricity bills. Unless there is meaningful and immediate intervention by the Government, the latest increases will tip vulnerable households over the edge.
“Neither does extending the fuel allowance for four weeks go far enough – or reach sufficient numbers of people who are experiencing financial hardship. It amounts to an increased income of €152 which, while welcome, will not bridge the affordability gap that so many people are enduring.
“The Social Democrats have consistently called for a targeted €400 energy credit for the 800,000 households most under pressure. This would provide real help to the hundreds of thousands of low paid workers and the majority of pensioners that do not qualify for the fuel allowance.
“Today’s inflation figures lay bare the impact that energy prices are having on the cost of living. We need further action from the Government to target supports at those who need them most.”
March 30, 2026