Small firms warn about impact of rising energy prices

The Small Firms Association has warned that recent increases in energy prices are bad news for business, consumers and the Government.

The association said it expected rises in the price of oil, gas, petrol and electricity to push up inflation in other areas as businesses pass the increased cost on to their customers.

SFA direct Pat Delaney said this would be harmful to the economy in general, but the Government could alleviate pressure in the short term by reducing taxes and excise duties on fuel.

"While it may not be a crisis at the moment, it has the potential to certainly become a crisis in the short term," he said.