Irish consumers 'bracing themselves for a major hit to their spending power'

Petrol, diesel, and home heating oil prices rose rapidly in March, leaving Irish consumers 'bracing themselves for a major hit to their spending power'

If military action ends soon, and energy markets return to their February pricing, consumer sentiment may move back quickly.

The escalating conflict in the Middle East risks a "large and lasting" deterioration in Ireland's economic and financial circumstances with consumer confidence now at a three-year low, economists have warned.

Surging energy prices have seen the latest Credit Union Consumer Sentiment Index record a reading of 56.7 in March, sharply down on the 65.2 figure for February and the lowest since March 2023.