Household savings rate rises slightly, despite cost pressures

The Central Statistics Office figures on sectoral income data showed the savings rate crept up to 10.6% compared to 10.3% in the first three months of the year

The Irish savings rate was more than the rate recorded in the UK in 2021 and 2022.

The Irish household saving rate was little changed at over 10% in the three months to the end of June, despite cost pressures, new figures showed.

The Central Statistics Office (CSO) figures on sectoral income data showed the savings rate crept up to 10.6% compared to 10.3% in the first three months of the year, suggesting many households maintained a financial buffer to absorb shocks amid the ongoing cost-of-living crisis.