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Households Still Saving Money Despite Cost Of Living

Households still managed to keep saying above average throughout the summer despite the rising cost...
Ben Finnegan
Ben Finnegan

12:34 PM - 6 Dec 2022



Households Still Saving Money...

News

Households Still Saving Money Despite Cost Of Living

Ben Finnegan
Ben Finnegan

12:34 PM - 6 Dec 2022



Households still managed to keep saying above average throughout the summer despite the rising cost of living.

In July, inflation was measured at more than 9%.

Figures from the Central Statistics Office show from July until September households were saving 19% of their income.

It's a slight fall from between April and June when the figure was at 20%.

Pre-pandemic the saving ratio was at 10% so the figures suggest saving habits have changed over the past few years.

Real disposable income for households also declined for the third quarter in a row up until September - however that is coming from a 24-year high last year.

The CSO also say despite earnings increasing - that was outpaced by inflation, meaning households' real income was lower.



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CSO Central Statistics Office Cost Of Living Inflation Money Saving

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