Consumer sentiment up, report shows

THERE was a rise in consumer sentiment in April, with the monthly IIB Bank/ESRI index rising to 98.8 from 92.3 in March.

However, the level of consumer optimism is still well below levels measured nearer the start of this year.

The abolition of the Groceries Order and a likely delay in further European Central Bank interest rate hikes have been attributed to a generally positive outlook this month. But consumer caution is expected to be strengthened by the recent rise in energy costs and renewed fears of higher borrowing costs.