Red C Poll

Eight in ten people expect the cost of living crisis to get worse

The latest Red C consumer mood tracker reveals a pessimism unseen since 2009, with some responders reporting dipping into savings to cover basic living costs and two-thirds of 18 to 24-year-olds considering emigrating

Shopping drops: people plan to spend less on discretionary items including entertainment and holidays, according to the latest consumer mood tracker from Red C. Picture: Feargal Ward

Consumer sentiment is at levels not seen since the economic crisis in 2009, according to the latest consumer mood tracker from Red C.

Only 14 per cent of consumers surveyed expect the Irish economy to improve over the next six months, the tracker found.

There are a number of reasons behind this, with most consumers expecting the cost of living, borrowing costs and the affordability of housing to worsen further, according to the survey.

Confidence ...