Good morning colleagues,

The IMF has warned that the limited amount of oil, gas and fertiliser making its way out of the Gulf will lead to “higher prices and slower growth worldwide”.

The Irish Times editorial brings its focus to what looks to be a deepening crisis, and continuing uncertainty: 

"Serious analysis is needed on the best way to support less well-off households if the crisis does deepen. After the Russian invasion of Ukraine, the previous government introduced energy credits for all homes. This time around supports need to be more focused; the welfare system gives one route, though assisting those who are at work but on lower incomes is a challenge.

Demand management may also be an issue – through, for example, measures to encourage people to use public transport, or work more from home."

Emmet Malone reports that the Government has been urged "to take more targeted action to address the impact of rising inflation on workers, the unemployed and more marginalised members of society." ICTU general secretary Owen Reidy said it was “tragic” that a “crazy military escapade” could potentially cause another cost-of-living crisis. 

ICTU's statement says "the most immediate and practical thing employers can do is facilitate more work from home in jobs that can be done remotely, and offer compressed hours or flexitime for jobs that cannot. This means fewer expensive fills at the forecourt for workers, and it is a cost-free response for employers and the Exchequer."