Micheál Martin (Cork South Central, Fianna Fail)

I refer to society in general. We all recall the various representations and so on.

The Deputy has raised the important issue of the impact of exchange rate movements, particularly in the case of sterling and the United States dollar, on the price of goods in this jurisdiction. The National Consumer Agency has raised this point with retailers. Some retailers make the case that they have entered into long-term agreements with suppliers and so on but that we can expect the situation to adjust in the coming weeks or months to reflect exchange rate movements. However, the National Consumer Agency shares the Deputy's concern that, in some instances, the prices charged by retailers reflect the price level that the latter anticipates the Irish market can bear as opposed to taking into account the movement in exchange rates. The agency will continue to exert pressure on retailers to ensure they pass on to consumers the benefits of the euro's appreciation in value. We will continue to undertake price surveys to ensure consumers are aware of the types of savings that can be made.

See this speech in context