Cabinet Will Meet This Week To...

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Cabinet Will Meet This Week To Discuss Rising Cost Of Living


04:18 6 Feb 2022

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The price of goods and services has risen in the past few months. 

A Cabinet sub-committee will meet this week to discuss the rising cost of goods and services.

Inflation rates are at their highest in twenty years, with the likes of rent and fuel skyrocketing.

Minister of State at the Department of Transport, Hildegarde Naughton, says the government's planning to take action.

It comes as rent has skyrocketed in many cities, and fuel prices are reaching highs.

Minister Naughton says financial forecasts suggest high inflation rates are only temporary.

"The positive is that the ECB and the Federal Reserve are expecting that rise in inflation to be temporary," Naughton said.

"The Cabinet sub-committee is meeting this week to discuss it, and we hope to have decisions made in the very near future."

"What we want to do now; is act fast and put in measures that will help alleviate the cost of living."

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