Is inflation good or bad for your purchasing power? Four in 10 Irish people don't know

An overwhelming majority of Irish adults believe they have an ‘average’ or ‘high’ level of financial literacy but only 58% identified that high inflation is bad for their purchasing power.

An overwhelming majority of Irish adults believe they have an ‘average’ or ‘high’ level of financial literacy but more than 40% could not correctly answer a Junior Cert level business sample exam question on the impact of inflation on household purchasing power, a new research showed. 

The PTSB 'Reflecting Ireland' research revealed 90% of respondents think they have ‘average’ or ‘high’ financial literacy but only 58% identified that high inflation is bad for their purchasing power, with 27% incorrectly saying it is positive for them, 10% incorrectly saying it would remain the same, and 5% saying it makes their personal finances more stable.