One-third of Irish households are "just making ends meet" as the cost of living crisis shows no sign of stopping.
Consumer price inflation has left many living paycheck-to-paycheck and the public is taking a "more downbeat view" of the economy, according to figures from Bank of Ireland. The public's economic fears have been re-ignited, according to the report, by the European Union announcing a ban on most Russian oil imports to the bloc, the European Central Bank flagging an imminent tightening of monetary policy, and the UK government planning action to override much of the Northern Ireland Protocol.
Bank of Ireland's Chief Economist Dr Loretta O’Sullivan said: "Irish households have been jumpy too, with the Consumer Pulse backpedalling in June after rallying in May. Looming interest rate hikes mean higher mortgage bills for some households and contributed to some slippage in the Housing Pulse this month."
