Making Cents: How shopping local is more important than ever

Grainne McGuinness

Picture: Stock

From utilities to groceries, the sharp hikes in the cost of living present a real financial threat to many Irish households. As bills for necessities rise, many of us are understandably looking for ways to cut costs. And when fears about the costs of living are added to the seemingly never-ending housing crisis, there can be a sense that this is a peculiarly Irish phenomenon. There is concern that this perception may lead to people seeking value by focusing their spending outside the local economy, something which could exacerbate problems in the long run.

Economist Jim Power has highlighted this potential issue in a new report for Champion Green, a national initiative that encourages local spending to drive post-pandemic recovery.