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No drawdown on massive pandemic savings despite surge in inflation

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There is no sign of consumers drawing significantly on the massive savings built up since the start of the Covid pandemic, even as costs rise and inflation eats away at the value of deposits.

New report from employers’ group Ibec says that the fact that these savings are concentrated in the wealthiest half of households suggests greater efforts should be made to target government support to meet rising costs for the other half of households deal with.

https://www.independent.ie/business/personal-finance/no-drawdown-on-massive-pandemic-savings-despite-rise-in-inflation-41583463.html No drawdown on massive pandemic savings despite surge in inflation

Fry Electronics Team

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