Homes and businesses face rising food and electricity bills as energy prices increase on the back of the Middle East conflict, says the latest assessment of the Irish economy.
The economy on both sides of the Border will grow this year, but uncertainty created by the US-Israel-Iran conflict increases risks, according to the EY Economic Eye Spring Forecast.
Petrol, diesel and home heating oil prices rose after Iran shut the vital Strait of Hormuz shipping lane in retaliation for US-Israeli strikes, hitting energy production and supply chains.
We were joined on The Agenda this morning by Labour TD for Louth & spokesperson on finance and public expenditure Ged Nash, to talk some more about this.
We also spoke about Deputy Nash’ calls for government TDs to back Labour’s mini-Budget proposals that would bridge the cost of living gap for households between now and October’s Budget - this motion will be brought to the Dail this Thursday.
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