Oireachtas Joint and Select Committees

Wednesday, 22 March 2023

Committee on Budgetary Oversight

Stability Programme Update: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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Okay. Dr. McQuinn says the ESRI does not expect the level of inflation predicted last year. Inflation dropped in January and went back up in February. Where does the ESRI see inflation at? If it moderates, it does not mean prices are coming down. Prices are locked in at the levels they are at and are still increasing. The ESRI made the point in previous commentary on the role one-off budgetary measures have played. Those measures are coming to an end – the energy credits, for example – but prices are still rising. There might be some move down in individual items, but the overall price of the basket of goods is still rising. How will that impact some of the most vulnerable families in our State?