Growing concern for families already on the brink as prices rise by 7.8%
The Society of St Vincent de Paul (SVP) has expressed significant concern for families already on the brink as the rate of inflation hits a 38 year high.
The latest Consumer Price Index data from the CSO shows prices rose by 7.8% in May.
It comes as SVP records over 78,000 calls for help so far this year – approximately a 20% increase on last year
Dr. Tricia Keilthy, SVP Head of Social Justice said;
“Data from the ESRI and Central Bank clearly shows the disproportionate impact of rising prices on low income households. It is critical that the upcoming Budget directs resources towards people on low and fixed incomes, otherwise more people will be pulled into poverty and those already struggling to get by will be pushed even further into hardship.”