Families already on the brink as consumer prices rise by 7.8% in May

    The Society of St Vincent de Paul (SVP) has expressed significant concern for families already on the brink as prices rise by 7.8% in May.
     
    The latest Consumer Price Index data from the CSO shows prices rose by 7.8% in the year to May 2022, the largest increase in almost 38 years.
     
    It comes as SVP records over 78,000 calls for help so far this year – approximately a 20% increase on last year.
     
    The Society says that the rising cost of living is pushing more and more families into poverty. 
     
    "From our volunteers’ work in communities, we know countless examples of people across the country unable to heat their homes and feed and care for their families. 
     
    "The cost of living measures provided so far have help and given people temporary relief. But people on low and fixed incomes were often already at the brink; battling a  rising tide of high rents, growing bills, often juggling health conditions and caring responsibilities.”
     
    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. 
     
    "Social welfare rates should act as a lifeline, keeping people on low and fixed incomes afloat in sea of rising living costs. Increasing them ahead of inflation is  the only way to protect people. This should be a first step in a wider plan to strengthen our social protection system making it more resilient to economic shocks and allowing  people to live with dignity.”

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