The Social Democrats are calling on the government to introduce a mini budget following the publication of CSO figures which show inflation at a 38 year high.
The party says the historic inflation rate coupled with the announcement that interest rates are on the way up in the coming weeks will compound the financial difficulties already facing many families.
Co-leader of the Party Roisin Shortall said the government need to establish an emergency fund to help those most at risk.
"What is desperately needed now is an emergency fund to be established.
"There are people who are going to go under because of these price hikes and because of inflation.
"The government needs to set up that fund so that it's available for those families who are most at risk."
