Rising cost of living still 'primary concern' for people heading into Budget 2025

'While overall inflation is decreasing, core inflation remains somewhat elevated, reflecting broader cost pressures in areas like housing and services'

The Government is due to announce Budget 2025 on Tuesday, including a €1.4bn tax package. 

Ahead of the budget on Tuesday, the increasing cost of living is the top financial concern for people, while many are looking for cuts to income tax or increases to the State pension in order to help make ends meet, a new survey has found.

The survey, conducted by Capital Credit Union on 3,700 of its members, found that 55% of people cited the rising cost of living as their “primary concern” regarding their personal finances —more than double the 22% who listed pension or retirement security, which came in second place. Housing affordability was cited by 14% of people overall but for younger cohorts it was a much bigger concern, with 47% of people in their 20s saying it was their primary concern, as did 26% of people in their 30s.