Inflation Rate
Dail Éireann — 2024-05-21
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Michael McGrath (FF), Cork South-Central

I thank the Deputies. We are at a point in the budgetary cycle where we have published the stability programme update. We will have the national economic dialogue next month and then we will have the summer economic statement and will consider all of the issues that the Deputies have raised in deciding on the budgetary parameters. Then, more particularly when deciding on the individual measures, we need to strike a balance between recognising that the cost of living remains high. Even though headline inflation is falling that does not mean price levels are falling. However, on the other hand, we need to allow inflation to fall and the Government should not do anything that results in a further spike in inflation, because it is in all of our interests to get it down to that consistent level of around 2%, not just in Ireland but also in the European Union and especially in the eurozone, to allow the European Central Bank to reduce interest rates. The issues are inextricably linked. The budget is a number of months away. I will take on board all of the points that the Deputies have made, when it comes to making specific decisions.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2024-05-21/debate/main
Retrieved: 2026-08-14T04:52:59+00:00
Sitting date: 2024-05-21