The cost of living crisis is over and journalists need to change the narrative, Shane Coleman has said. 

Russia’s invasion of Ukraine caused huge disruption in the international energy market and among supply chains. 

The result was soaring inflation across the world and millions of people struggling to make ends meet. 

Nearly two years on and Shane believes the crisis is over. 

“I think we need to stop talking about the cost of living crisis,” he told Newstalk Breakfast listeners. 

“I don’t think there is a cost of living crisis anymore and just to say at the start, that is not to say, there aren’t people struggling - there are. 

“But I actually think by using broad brush things about ‘everyone suffering from the cost of living’ crisis, we’re ignoring those people who are most in need.” 

Shane said there is plenty of data to suggest many people are doing well for themselves and economic forecasts look strong. 

“Those car figures I just mentioned, the numbers in Dublin Airport are absolutely huge, hospitality is booming,” he said. 

“Inflation, by the way, is actually coming down and its forecast for next year is relatively moderate.

“I think it’s time to change the narrative… The problem with not accepting the reality is you ignore problems that do exist.” 

'It's a lie, it's a myth, and it's a cliché'. Shane Coleman believes that continuing to refer to a 'cost of living crisis' does more harm than good. Do you agree? @NTBreakfast pic.twitter.com/rQv1bqi324

— NewstalkFM (@NewstalkFM) November 9, 2023

'An Ireland of two halves'

Co-host Ciara Kelly disagreed and there are many people in Ireland who “can’t cope” and continue to suffer. 

“I don’t think us talking about a cost of living crisis prevents us from highlighting the issues that some people have,” she said. 

“I think it is actually a good way of doing it; I think what we’re saying is, Ireland is an Ireland of two halves. 

“There is inequality here, I think lots of people when you say, ‘There’s no cost of living crisis’ will baulk at the radio.” 

The Central Bank has forecast inflation will average out at 5.4% this year, 3.2% in 2024 and drop further the year after to 2.3%. 

Main image: Shane Coleman.