Price hikes on the way for fuel, alcohol, streaming services and more on the way – – Our News, Your Views

Price hikes on the way for fuel, alcohol, streaming services and more on the way

Consumers have been warned to brace for another raft of price hikes despite an easing off in the rate of inflation.

Among the goods and services set to rise in price are the cost of petrol and diesel, alcohol, streaming services and transport services.

It comes at a time when domestic gas and electricity prices remain at record highs with only a small reduction in prices expected over the coming months, reports Independent.

The continuing price surge is despite the latest inflation figures from the Central Statistics Office showing consumer prices rose at a rate of 6.1pc in June, down from 9.2pc in October.

Experts said this means the rate of increase in prices has eased but they are still rising, just not as fast as they were.

Chairman of the Consumers’ Association Michael Kilcoyne said the ongoing squeeze on disposable income means the Government will have to announce a large programme of financial assistance for consumers in the Budget.

Spotify has announced it is hiking the cost of its individual and duo plans by €1 a month to €10.99 and €14.99 respectively.

And Netflix is clamping down on password sharing, meaning many will have to fork out for their own subscription starting from €8.99 a month, reports Independent.

This means some music and movie-lovers may need to fork out an extra €120 a year, according to calculations by price comparison site

From tomorrow, Bus Éireann will hike the price of its Expressway coach services by 5pc.

Petrol and diesel prices have remained steady this month as the fuel market stabilises.

This means households will soon be paying around €130 in total in carbon tax on their gas costs and around €142 in total for their oil.

The implementation of the carbon tax increase on home heating fuels may be spared until next May though.

Grocery prices rose by almost 15pc in the 12 weeks to July 9, according to consultants Kantar – more than twice the general rate of inflation, reports Independent.

And Russia’s recent decision not to extend the Ukraine grain deal has stoked worries about global food supply chains and prices once again.

Mr Cassidy said: “This will likely lead to higher prices for staple items such as bread, cereals and pasta over the coming months,” reports Independent.

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