Warning that firms cannot absorb energy price hikes

Soaring energy inflation will require an effort across Government to police unjustified rip-off prices

There was no let-up in energy price pressures on international markets on Friday.

Soaring energy inflation will require an effort across Government to police unjustified price hikes and "shrinkflation" to prevent a return to the era of consumer rip-offs, Dermott Jewell, policy head at the Consumers' Association of Ireland has warned.  

Mr Jewell said the Government should set up a new section that can monitor and publish price increases on a more regular basis than the official monthly reports — as it did during the health crisis in the last two years.