Lower and middle income families will “feel the pinch” as the economy begins to tank next year, the ESRI think-tank’s Winter economic report has forecast.
The economists at the ESRI (Economic and Social Research Institute) have highlighted trouble coming down the tracks in 2023, with the cost of living crisis worsening, interest rates rising and an international recession all contributing to an economic slowdown.
They said this would mean 2023 will be a “challenging” year for those on lower and fixed incomes.
