Falling inflation drives consumer shift to saving more

Consumer attitudes towards saving changed 'dramatically' this quarter, with four in 10 people saying now is a good time to save compared to one in four in August 2023, research finds

Bank of Ireland’s Savings and Investment Index showed concerns over inflation had reached its lowest level, with just 18% citing it as their primary concern — compared to its peak of 33% in February 2023.

As inflation concerns among consumers continue to recede, attitudes towards savings and investments have changed dramatically, with more people feeling it is an opportune time to put more money away, a new survey by Bank of Ireland shows.

According to Bank of Ireland’s Savings and Investment Index, saving and investing sentiment continues to recover, with the overall index rising to 94 during the last three months — up from 83 in July.