Thursday 22 February 2018

State is the one holding families' purse strings

TWO basic trends explain why families have less to spend these days and get less for their dwindling euros.

The double-whammy comes from a rise in commodity prices across the globe and higher taxes closer to home.

Commodity prices probably play a bigger role. A mixture of rain in this part of the world and drought in other countries has pushed up the price of many basic ingredients used in the kitchen. The Central Statistics Office calculates that a 10kg bag of spuds has risen in price from €5.06 to €9.34 in the past year. That's an 85pc jump.

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