Households €551 worse off last year due to inflation, while risk of poverty rate increases

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Households €551 worse off last year due to inflation, while risk of poverty rate increases
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If COVID-19 income supports were excluded, the at risk of poverty rate last year would have been 20.5% according to the CSO.

That’s according to new figures from the Central Statistics Office, which also found that the risk of poverty rate also increased last year.

However, when using 2019 as a base year to adjust for inflation, the real median figure last year was €46,076, a decrease of €551 when compared with 2021. O’Regan noted that the survey also highlights the “higher incidence of the risk of poverty amongst certain groups, such as persons unable to work due to long-standing health problems; the unemployed; single-adult households; and those in rented accommodation”.

This compares with an at risk of poverty rate of 5.8% for those that described themselves as employed.The survey also found that the richest 20% of people in Ireland have four times the income of the poorest 20%.

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