Ireland is stuck in a ‘vibecession’, with people feeling worse off despite improving economic circumstances
When asked what their most specific financial concerns are, people in Ireland point to the cost of energy, groceries and healthcare
In February, Amárach and Penneys published their annual Pulse of the Nation report which said Ireland was stuck in a “vibecession”, with people feeling worse off despite improving economic circumstances.The final countdown to those last-minute holiday savings And now we have the Future Consumer Index published by EY earlier this month, and it paints a similar picture as those that came before it.
The EY study shows people in Ireland are still under pressure, with 62 per cent of households extremely concerned about rising prices. This compares with 55 per cent globally. A total of 44 per cent of those polled say they are planning to spend more time at home with a third expecting to up their at-home hosting and entertaining duties as the year progresses.
We’ll happily use the technology to do our own product research, but the human touch is really important and if something goes wrong we want to make sure that we can speak to somebody She points to falling domestic energy prices – the cost of heating and lighting a typical Irish home over the course of a year has fallen by around €1,000 – as well as a slower pace of food inflation and a cut in interest rates from the ECB.
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