There are no plans to introduce Covid-like restrictions to deal with the energy crisis unfolding due to the US war in Iran, Tánaiste Simon Harris has said.
His comments come as annual consumer price inflation is estimated to have risen to 3.6% in the 12 months to March, the latest flash estimate of the Harmonised Index of Consumer Prices from the Central Statistics Office shows.
Prices rose by 1.8% since last month, the CSO added.
This compares with HICP inflation of 2.5% in Ireland in the 12 months to February 2026 and an annual increase of 1.9% in the HICP for the Eurozone in the same period.
It said energy prices are estimated to have climbed by 11.1% in the month and were up by 12.3% over the 12 months to March 2026.
Mr Harris said the scale of the energy crisis is greater than the world has ever seen, but he said there are no supply concerns in Ireland or Europe today.
He said this current crisis is very different to the pandemic and there are no plans to adapt people's travel schedules.
"We are keeping all measures under review," he added.
The Tánaiste said if the war ended today, it would take a year to fix the damage done to infrastructure according to the best estimates made available by the IEA.
He said the Government did give advice to people about the conservation of energy during the conflict in Ukraine and that may be necessary again.
However, the Tánaiste said the focus is on the de-escalation of the conflict in the Middle East.
He said the Government still expects the economy will grow this year and incomes to rise, putting the country in a strong position to respond to the crisis.
Sinn Féin Spokesperson on Finance Pearse Doherty urged the Government to quickly introduce further cuts to diesel, petrol and home heating oil, in light of the latest inflation figures.
He warned that if fuel and energy prices are not brought under control quickly, it will have a major impact on food prices and other sectors of the economy, affecting workers and families at a time when they can least afford it.
He said too that farmers and fishermen are fuming at the "measly" reduction on green diesel excise duty announced by Government last week and called for further cuts.
Increase 'may have been influenced' by Middle East
According to the CSO, food prices are estimated to have decreased by 0.3% in the last month and gone up by 2.3% in the last 12 months.
The corresponding rate for the euro zone will be published tomorrow.
Statistician in the CSO Prices Division Anthony Dawson said the increases in energy prices "may have been influenced by recent events in the Middle East".
He said the prices were collected in mid-March and before the Government measures on energy costs were introduced.
The figures are a flash estimate for the EU Harmonised Index of Consumer Prices (HICP).
The HICP is an index of consumer prices that has been harmonised to allow comparisons across Eurozone countries.
The March Consumer Price Index, which is the official measure of inflation for Ireland, will be published by the CSO on 9 April.
