Consumer association calls for action against retailers

The Consumers Association of Ireland has called on the Government to take action against retailers who contribute to inflation by hiking up their prices.

Figures released earlier today showed that Ireland's inflation rate now stands at 5% thanks to a 0.7% increase in prices last month.

Consumers Association spokesman Dermot Jewell said: "We're badly missing some form of monitoring system that really seriously addresses the problems and that has the capability of not necessarily naming and shaming, but addressing the people who are responsible for causing inflationary increases of this level."

The Tanaiste, Mary Harney, meanwhile, has accepted that inflation is too high and that the Government's budgetary measures, though well-intentioned, have exacerbated the problem.