Listen: Who is being hit hardest and what are the consequences of spiraling inflation?

Consumers are facing rising prices at almost every turn as inflation reaches levels not seen in more than 20 years.

As a result of the big squeeze, most Irish families will need to find over €2,000 more this year than they needed in 2021 just to keep food on their tables, their cars on the road and their homes even moderately warm and bright as the year progresses.

Rising oil and gas prices, supply chain issues, Covid and Brexit have all contributed to the crisis.

While the Government hoped that it would be a short term problem, the mood music has shifted in recent days and there are now fears inflation could be with us for some time to come.