Irish Consumer Sentiment Hovers At 22-Month Low In August

By: Trademagazin editor Date: 2022. 08. 18. 08:03

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Irish consumer sentiment slipped marginally to hover at a 22-month low in August as respondents said they expected to further cut back on major purchases in the coming months, a survey showed on Thursday.

Grocery inflation in Ireland reached 7.7% in the 12 weeks to 10 July 2022

The KBC Bank Ireland consumer sentiment index fell a touch to 53.4 from 53.7 in July, its sixth decline in seven months, having stood at 81.9 in January. The slight weakening was driven by a softer outlook for the jobs market, for household finances over the next 12 months and a larger pullback in spending plans.

Finance Minister Paschal Donohoe said last week that the economy is continuing to perform strongly and remains set to grow in line with expectations that were lowered in April.

Grocery inflation in Ireland reached 7.7% in the 12 weeks to 10 July 2022, recording its highest level since August 2008, data from Kantar showed. Consumer spending on take-home grocery sales fell by 3.1% in the period, slowing by 0.9% in the latest four weeks.

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