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HEAR MORE: Majority plan to cut back on food spending in response to cost of living concerns

Jun 8, 2022 11:06 By News Northern Sound
HEAR MORE: Majority plan to cut back on food spending in response to cost of living concerns HEAR MORE: Majority plan to cut back on food spending in response to cost of living concerns
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New research has found that 62% of people feel they will have to cut back on food spending over the coming year in response to cost of living concerns.

Meanwhile, 53% of people worry they will be unable to pay higher energy bills.

The findings are part of the latest in the Permanent TSB research series called Reflecting Ireland, which show consumer confidence falling as attitudes to personal circumstances and the economy are deteriorating.

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It found the increases in the cost of living are now the dominant issue among 81% of consumers - up from 62% just three months ago.

Consumer pessimism is also at its highest level for nine years.

Our reporter, Diarmuid Pepper, spoke to Claire Cogan, a behaviour scientist and founder of the consultancy Behaviour Wise, about the findings:

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