One in three Irish are struggling with the cost of living crisis

Just under a third of the Irish population say they are struggling to make ends meet during the cost of living crisis, according to a global survey.

Responses from respondents around the world show that the proportion of people in Ireland who are struggling with rising costs is 30 per cent, just below the WIN World Survey global average of 36 per cent.

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Irish data showed that a quarter live comfortably, while 44 per cent said they were neither comfortable nor faced with financial difficulties.

Those most likely to struggle in Ireland come from poorer economic backgrounds and from the crowded middle age group of 35-54, both of whom make up just over a third.

Globally, it had the highest proportion of people struggling at 76 percent, while Vietnam had the lowest group at 14 percent.

The study also shows that a high proportion of the Irish public have changed their spending habits in response to inflationary prices, with seven in ten people saying they have reduced spending over the past month.

This makes Ireland – along with Greece – one of the countries with the largest inflation response of all countries.

Those who cut spending are at about the same level across Ireland’s demographic groups – including gender, age, region and socio-economic background.

Another fifth said they plan to cut spending in the coming months.

Only one in ten plan no changes to their spending.
WIN International’s Richard Colwell said: “Irish resilience and experience of economic struggles are plain to see, with the world’s population being the most responsive to try and live within our means.

“However, in Ireland there is clearly a significant divide between those who are struggling and those who are still living comfortably in the current crisis. Any future support must focus on those most in need.”

According to the latest CPI figures, inflation for the year to November 2022 was 8.9%, compared with an annual increase of 9.2% in the year to October.

Shortly after taking office at the Treasury, Michael McGrath said inflation was believed to have peaked in Ireland and was expected to slow as the year progressed.

The government has yet to decide whether to extend several living expenses supports beyond February.