The low-income households are vulnerable to inflation: CSO
DUBLIN – Ireland’s lowest-income households are on the verge of inflation, according to CSO data. All these families, especially rural people and people over 65 years of age have to spend a large portion of their income on utilities, fuel, and transportation costs. The prices of all these are burning up.
According to the CSO, electricity, gas, and other fuels accounted for one-quarter of last year’s inflation.
Rent is a significant financial burden for tenants. They pay 36% of their income for rent and 21% for gas and other expenses.
According to the CSO, inflation for low-income households is 9.5%. At the same time, high-income households are experiencing 7.5% inflation. The data also show that the annual inflation rate according to the Consumer Price Index was 8.2% in September.
Private renters experienced inflation of 8.3%, while those renting from local authorities experienced a price increase of 9.1%. Inflation was lower in urban households (8.1%) than in rural households (8.7%).
8% of households headed by people under 35 and between 35 and 64, and 9% of households headed by people over 65, face inflation problems.
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