Families in Ireland were around €1,000 worse off last year thanks to the rapid inflation growth worldwide.
The CSO has released figures that show that despite a rise in median income the cost of living crisis led to a drop of around €1,00 for the average family. Disposable income for the year rose to around €47,000 but with inflation taken into account it dropped to €46,076.
There was also a 1.5% increase in the number of people at risk of poverty which was up to 13.1%. RTE reports that the CSO's Survey on Income and Living Conditions said those most at risk were the unemployed and those who had long-standing health problems.
Read more: Dublin supermarkets struggle with weather related shortages as fruit and veg stock plummets
Older people have also seen an increase in poverty within their demographic category. It rose a staggering 7.1% from 11.9% in 2021 to 19% in 2022.
The number of people living in consistent poverty also rose last year by 1.3%. Without Covid-19 supports the at risk of poverty rate in Ireland would have been as high as 20.5%.
The income of the 20% richest people in the country is four times that of the 20% poorest people in Ireland. There are around 671,183 people living in poverty in Ireland of which 188,602 are children and 143,633 are older people.
READ NEXT:
Google to lay off 240 Irish staff as part of global job cuts
Dublin jobs: Irish Rail on-board catering to create over 50 new roles
Dublin jobs: Zoo hiring 'enthusiastic' general assistant with a special set of skills
Inside Ireland's most expensive house for sale with whopping price tag
Met Eireann's freezing forecast as hail could hammer Dublin in cold snap
Sign up to the Dublin Live Newsletter to get all the latest Dublin news straight to your inbox.
