Irish consumers rein in spending in fear of Omicron and soaring utility bills

Cheer turns to fear as Ireland is haunted by the Covid flare-up of last Christmas, and by ever-higher energy prices in the new year

'An uneven and possibly sluggish or subdued Christmas rather than a slump in spending,' is how KBC Bank describes the sentiment it detects in its latest consumer survey. Picture: Larry Cummins

Memories of the flare-up of Covid last Christmas will likely lead to Irish consumers reining in their spending plans this year in the face of the Omicron variant, a major new survey has found. 

KBC Bank's latest reading of Irish consumers finds that households are facing "seasonal fear rather than cheer" as they contemplate both the risk of the variant and the prospect of paying higher utility bills after Christmas, as inflation hits heating and lighting and other costs this winter.