YOUR MONEY — HOW TO BEAT INFLATION

÷ SHOP AROUND There is often a big variation between the prices charged by supermarkets and other retailers, insurers, solicitors, dentists, tradesmen and so on — so it’s always worth shopping around. Keep an eye an the special offers being run by the various supermarkets — stocking up on discounted nonperishable items can save money in the long run, though be sure you’re buying them because you need them and not because they’re cheap. Check the price comparison website pricespy.ie before buying electronics, toys, kitchen appliances, white goods or make-up — as this should help you find out where the cheapest place is to buy something. ÷ SHOP LOCAL By buying Irish, or EU-made goods, you’ll escape the tariffs imposed by the EU on American goods last month — and avoid any possible increases in the price of British goods following Brexit. Get to know American, British and EU brands and plan your shopping accordingly. Should the trade war escalate, it is likely to become much more expensive to buy American goods here — assuming they’re imported into the EU from the US. Remember, some retailers will absorb tariffs so prices won’t always go up as a result of them. Should there be a second wave of EU tariffs, dishwashers and washing machines imported into the EU from the US are set to be hit with a hefty 50pc tariff — so bear this in mind if planning any purchase of white goods in the future. ÷ CUT BACK Irish households throw out about €700 worth of food a year, according to the social enterprise, Food Cloud. By cutting back on your weekly shop so that you only buy what you need and use , you can limit the impact of future price rises, and save on your grocery bill and bin charges. ÷ BE ENERGY EFFICIENT & SWITCH Many consumers will be hit with more expensive energy bills next month due to a series of electricity and gas price hikes set to kick-in then. Electric Ireland, Energia and Flogas, Panda Power, Pinergy, PrepayPower and Bord Gais Energy will be increasing their prices from early August. SSE Airtricity increased its electricity and gas prices yesterday. Becoming more energyefficient should reduce the amount of electricity or heating you use — and bring down your energy bills as a result. Switching to a cheaper supplier will also help. “To soften the impact of these hikes, the best thing consumers can do is compare energy deals and switch to a new supplier,” said Eoin Clarke, managing director of switcher.ie. “In early July, the average dual fuel customer could have saved up to €342 by switching from standard deals to the cheapest plans on the market.” ÷ USE A MONEY-SAVING APP Getting a money-saving app on your phone could help you save money on groceries, clothes shopping, social life and other day-to-day costs. There are a number of money-saving apps, such as Vouchercloud, Groupon, and Living Social which keep you up-to-date on deals and discounts from restaurants, retailers and so on. The pumps.ie app can help you find the cheapest nearby garage for fuel. Having the pricespy app on your phone can help you shop around for the best deals on electronics and other items.