Prices are on the rise again - how worried should we be?

Inflation is back as economies reopen - is this a blip or the start of a trend?

On an annual basis, prices are now 1.7 per cent higher than they were in May 2020. Photograph: iStock

On an annual basis, prices are now 1.7 per cent higher than they were in May 2020. Photograph: iStock

If you’ve had your hair done, priced a new extension or looked at a second-hand car lately, you might have been surprised by the cost. Yes, there is undoubtedly upward pressure on prices.

And, while soaring property prices may attract most of the attention, consumers are facing price surges in a host of different areas. But is it enough to make savers and investors take action, or is the current inflationary environment just a temporary blip as economies start to emerge from the pandemic?

The Irish Times
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