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Inflation

Kermit.de.frog

Noticing the price of everyday items increasing. This will start to impact people sooner or later if it's not already.

And that's before interest rates rise this year. Could put up to €300 extra per month on a mortgage.

There's interesting times ahead.

Any items in particular you've noticed jump in the last few weeks/months?

Are you concerned about the increases? Myself I would say 'not yet' but if inflation hits double digits that's not something that can be ignored too long.

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Varik

Gas looking to get another bike spike.

Algeria looking to change how the price their long term contracts to better benefit from spikes in prices which are being negotiated now due to the extra demand from Europe.

There's a few pipelines with 2 lines from Algeria to Spain, 1 via Morocco and another direct. They shut off the Morocco one a while ago and now they've threatened to shut off the direct line as Spain is sending gas back through the Morocco line to supply Morocco.

Leg End Reject

More misery.

https://www.rte.ie/news/ireland/2022/0701/1307953-electric-ireland/

Sweet.Science

https://www.boards.ie/discussion/comment/119276136#Comment_119276136

Its really at tipping point now. There needs to be massive cuts to public service projects and the money be given to the people in the short term.

Jonnyc135

https://www.boards.ie/discussion/comment/119276136#Comment_119276136

On the same day Inflation hits nearly 10%, with these increase Inflation is definitely not peaked and is going nowhere, gas up 30% coming into the winter months things are not going to be good

Deub

https://www.boards.ie/discussion/comment/119276136#Comment_119276136

Crazy. It means an increase of 61.2% for gas and 36.8% for electricity so far in 2022 from Electric Ireland.

Sweet.Science

https://www.irishtimes.com/politics/2022/07/01/budget-2023-one-off-measures-will-target-childcare-housing-health-says-mcgrath/

Oh. Tax is going up now.

Leg End Reject

https://www.boards.ie/discussion/comment/119276220#Comment_119276220

It's a vicious circle though, if more money is pumped into the economy inflation will increase more.

No doubt all the other providers will announce additional increases too. Oil, petrol and diesel are sky high too, I really feel for anyone with a long commute to work.

Sweet.Science

https://www.boards.ie/discussion/comment/119276272#Comment_119276272

They dont need to pump money in. They can cease taxes like motor and property for 6 months etc.

rob316

https://www.boards.ie/discussion/comment/119276270#Comment_119276270

The pension problem is a ticking time bomb that is deeply unpopular to tackle but we can't escape the fact people live longer now and the birthrate is low. England had to hike national insurance recently. No real way around it

Indestructable

https://www.boards.ie/discussion/comment/119276136#Comment_119276136

That's actually sickening. Ffs

Leg End Reject

https://www.boards.ie/discussion/comment/119276289#Comment_119276289

Can you imagine all the shinners and PBP etc? They'd be apoplectic at the middle class getting a leg up rather than "the most vulnerable in society". 😂

Sweet.Science

https://www.boards.ie/discussion/comment/119276293#Comment_119276293

Oh i know that. But we have been dangled with lower tax brackets all week. And now this all of a sudden.

[Deleted User]

Where or when is the peak in all of this. At one stage you could just about budget to heat and eat. The average person is just being stretched way beyond anyway they can afford. This isn't even living anymore, it's just about surviving. Very depressing. I'm afraid to turn anything electrical on. This winter will be beyond depressing.

There are also a lot of people profiteering from this crisis.

Leg End Reject

More people need to be brought into the tax net, the government can't keep squeezing those who pay 40% PAYE from €36k up, plus PRSI and the various USC bands. A lot of these will earn enough to be disqualified from eligibility to a medical card, FIS, HAP, social housing etc., but not enough to rent or buy their own home.

[Deleted User]

https://www.boards.ie/discussion/comment/119275553#Comment_119275553

1 bedroom apartment here with 2 people

Electricity is costing us about €35 - €40 a week on a top up meter with coins. We use absolutely nothing, you can see a €1 everything you use the kettle, if you use the oven to cook something for 30 minutes would cost about €3

StrawbsM

https://www.boards.ie/discussion/comment/119276388#Comment_119276388

Thats around 320 per 2 month bill period! Absolutely insane money. Please tell me that you have storage heaters and that’s where the money is going?

KildareP

https://www.boards.ie/discussion/comment/119276663#Comment_119276663

Prepay electricity is a false economy - although if its a coin meter then it's probably a case you have no choice as it's your only option.

The unit rates are amongst the most expensive on the market.

The standing charge is amongst the most expensive on the market.

There is then a supplementary prepay charge on top of all that to boot!

The most popular prepay provider charges you €1.35 every single day (nearly €81 every 2 months) before you've even used a single watt of electricity.

By way of comparison a standard bill plan is typically 77c a day or €46.20 every 2 months.

PaybackPayroll

https://www.boards.ie/discussion/comment/119276293#Comment_119276293

Yes, they did increase National Insurance. It was a 'Health and Social Care Levy' they added from 6 April 2022.

However, shortly after, they've have to reduce NI again. So people pay more between 6 April to 6 July, and then it goes down again.

https://www.gov.uk/guidance/estimate-how-the-national-insurance-contributions-changes-will-affect-you#:~:text=From%206%20July%202022%2C%20as,Health%20and%20Social%20Care%20Levy.

[Deleted User]

https://www.boards.ie/discussion/comment/119276663#Comment_119276663

Yeah it's absolutely insane I asked landlord if we can change provider and all he said was there's an issue doing that from before! No heating, not even an immersion.

[Deleted User]

https://www.boards.ie/discussion/comment/119276353#Comment_119276353

This can easily be done using USC, harder to avoid than income tax. Madness in this country that not 1 cent of income tax is paid by somebody on a salary of €17,000 or less, but dare to earn over €36,800 and you start paying the 40% rate of income tax.

[Deleted User]

https://www.boards.ie/discussion/comment/119276794#Comment_119276794

Yeah it's a coin meter.

It's money down the drain every week.

brickster69

Looks like America's largest LNG export terminal is going to be out of action for another 3 months than was expected. Nord Stream 1 is to totally shut for 2 weeks in July also, so looking almost impossible for enough storage for this winter.

https://www.bloomberg.com/news/articles/2022-07-01/european-gas-set-for-third-weekly-rise-as-supply-worries-deepen?utm_medium=social&cmpid=socialflow-twitter-business&utm_source=twitter&utm_content=business&utm_campaign=socialflow-organic#xj4y7vzkg

patnor1011

https://www.boards.ie/discussion/comment/119276220#Comment_119276220

Nope. As those money will end up with providers which will just increase prices again. None of them are facing some existential problems they are actually reaping record profits.

There is supplier who offer cheap energy currently even with a discount. Most of the world does not have problem to buy it.

We can either buy it from them directly or we will end up buying their energy through third countries paying double for it anyway.

Oh and please do not mention some higher principles or morals, usa is happily stealing grains, oil and gas from syria for about 12 years and nobody cares.

Thespoofer

I reckon your landlord is skimming a few quid from this system.

If I was in your shoes I'd be on YouTube looking at was to feed the meter without putting in coins !

Sammy2012

When are interest rates due to rise?

Leg End Reject

https://www.boards.ie/discussion/comment/119277381#Comment_119277381

Next month I think.

combat14

https://www.boards.ie/discussion/comment/119277381#Comment_119277381

we aint seen anything yet so .. in terms of price rises ..

riclad

Inflation is a serous problem, every week some random homeless person asks me for money,

Have you got a euro?

For the first time I was asked for 2 euro?

WTF???

I just moved on said no as per usual

He asked another 4 people nearby

I suppose the price of hash drugs and drink is going up too

You can eff off giving me 1 euro

This is not 2020

Is 2 euro now the going rate for beggars?

Gant21

https://www.boards.ie/discussion/comment/119278512#Comment_119278512

He could be a macdonalds regular.

riclad

We are in the EU , we had to take in our quota of Ukrainians, its not really a choice, Poland is not a very rich country, they took in over a million Ukrainians, I see little difference between fine Gael or Fianna Fáil re economic policy's , ff is slightly more Conservative Re northern Ireland policy

I read an article it says the easiest way to combat inflation would be to reduce duty on certain country's imports eg steel etc from outside the EU and to make changes in the whole structure of supply chain in global products