Household saving rates drop to 14% as disposable incomes shrink 

The lower rate of saving in the first quarter of this year marks a departure from the high rate of over 20% that has prevailed since the pandemic.

Figures released by the CSO on Thursday show that household saving has almost halved in the first three months of this year, dropping from a rate of 24% at the end of 2022 to 14% by the end of March 2023.

Household saving rates dropped to 14% in the first quarter of 2023, as high rates that have prevailed since the start of the pandemic were impacted by shrinking disposable incomes.

Figures released by the CSO on Thursday show that household saving has almost halved in the first three months of this year, dropping from a rate of 24% at the end of 2022 to 14% by the end of March 2023.