Taoiseach rules out early budget ahead of 'difficult' winter

Mr Martin said the Government is trying to "avoid" an era of stagflation but says lessons from the recessionary days of the 1970s show that chasing inflation leads to even higher price rises. File picture

The Taoiseach has ruled out an early budget in response to rising inflation and the spiralling cost of living.

Micheál Martin has also warned of a "difficult" winter ahead, especially in relation to the price of energy. According to the latest ESRI report, inflation is beginning to outpace the growth of the economy with inflation at 7.1% and growth at 6.8%.