Monday October 26, 2020

Savers beat inflation, but returns still shrink

Irish savers are still beating inflation despite a sharp increase in consumer prices in August and European Central Bank monetary easing policies.

15th September, 2012

Irish savers are still beating inflation despite a sharp increase in consumer prices in August and European Central Bank monetary easing policies, although net returns are shrinking and could be under threat.

Irish demand deposit accounts still offer gross rates of up to 3.5 per cent, which beats August's 2 per cent inflation by nearly half a percentage point when deposit interest retention tax (Dirt) is factored in.

For term savings and monthly deposit accounts, savers can...

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