Almost 670,000 people in Ireland are living below the poverty line, according to the Social Justice Matters report.
Research and Policy Analyst with Social Justice Ireland Michelle Murphy said that renters are also at increased risk of poverty.
Speaking to RTÉ's Today with Claire Byrne, she said: "There is a 41% poverty risk for people who are renting in the private market once they have paid their rent."
Ms Murphy said: "That’s astonishing but it shouldn’t be surprising.
"You have 667,000 people out there today who are living below the poverty line and they feel invisible every day of the week.
"They struggle just to survive on a daily basis. Your options are so limited all of a sudden."
"We have a housing and a homelessness crisis and we also have a poverty crisis," she said, adding that there has been a 62% increase in the number of older people living in poverty in the space of one year.
Ms Murphy said: "This shows the impact of increased cost to people’s fixed incomes.
"One of the greatest successes we have had over about three decades is reducing the number of older people in poverty but what you have now is a significant jump in the space of one year."
Ms Murphy added that an "increase in core welfare rates," would likely help to alleviate rising poverty rates.
