New Year set to be bad for consumers, says watchdog

It set to be an expensive New Year for consumers as numerous new price increases are introduced.

Electricity and public transport costs increase from today, while predicted higher inflation is putting other price rises on the cards.

Dermot Jewell of the Consumers Association said any benefits brought forward by the Budget are being eroded by these increases.

“We have already taken on gas increases,” he said.

“We've got electricity charges going through, toll increases, we're not sure where we are with health insurance, postal charges have been asked to be increased and of course we have got mortgage and interest rates.

"Looking forward very far we see a tough and testing time ahead.”