Consumer confidence at lowest level in recent years

Consumer confidence in Ireland has fallen to its lowest level in recent years, according to the latest assessment by IIB Bank and the ESRI.

The two organisations say their Consumer Sentiment Index is currently at its lowest since they began compiling the figures.

The sharp fall in confidence during the past month is being blamed on increasing concern about job losses and rising prices.

One-third of consumers expect their household finances to deteriorate over the next 12 months.