Sinn Féin spokesperson on Finance Pearse Doherty TD has called on the government to get a grip on the cost of living crisis as inflation hits 5.1 percent, with energy prices rising by 25 percent and the cost of home heating oil up by 71 percent.

He was speaking as the Consumer Price Index for October was published by the Central Statistics Office.

Teachta Doherty said:

“The government have failed to get a grip on the cost of living crisis that is hurting workers and families.

“Today, the Central Statistics Office has found that prices have risen by more than 5 percent in the past year, reducing the spending power of households and their living standards.

“The government had a chance to support workers and families in Budget 2022 but blew it – for example, core social welfare rates have failed to keep pace with price rises and no action was taken to reduce rents. In fact, rents are increasing across the State.

“We see that energy prices have risen by 25 percent, while the cost of home heating oil has soared by a staggering 71 percent.

“More than a third of households use home heating oil as their main home heating fuel. As a result, the vast majority of rural households, those in border counties and more than half of households in the West of Ireland will see their home heating bills rise dramatically.

“Instead of giving a helping hand to households, they have increased prices further with Carbon Tax hikes.

“Currently, there is 13.5 percent VAT charges on already high energy prices, on top of Carbon Tax and the PSO levy.

“We in Sinn Féin have been urging the government to stretch every sinew to remove VAT on domestic energy bills for low and middle-income households this winter.

“This would help to dramatically reduce the cost of heating and lighting homes in the months ahead and giving households a helping hand.

“The government need to wake up and respond to the cost of living crisis.”