Govt accused of failing to tackle high inflation rate

The opposition is accusing the Government of failing to do anything to tackle Ireland's high inflation rate.

Figures out earlier today show the annual inflation rate jumped back up to 5% in July, mainly due to rising interest rates and oil prices.

However, Fine Gael says the Government is also to blame for failing to control costs in areas under its control, including health and housing.

The Labour Party, meanwhile, says inflation is wiping out the effects of the pay rises contained in the Towards 2016 deal.

It says the social partners should seek an immediate meeting with the Government to insist that action is taken.

Elsewhere, he Consumers' Association says rising prices are putting the country in severe difficulty, while business groups are warning that jobs will be lost if inflation is allowed to stay at such a high level.