Consumers saving at record rates

People are saving at record rates, with 48% saving regularly and one in five putting away as much as €200 per month.

The Nationwide UK (Ireland)/ESRI Savings Index increased by 23 points in January to bring the index to 114, the highest level since October last year and six points higher than January 2011.

The survey found 23% of consumers who are able to save occasionally or regularly save between €26 and €50 a month; a further 23% are saving between €51 and €100 per month, and 22% are saving between €101 and €200 per month.