Monday, February 11 07:45:23
The Consumers Association of Ireland reports that the cost of a typical basket of groceries has increased by more than 12pc in the past two years. The increase was identified in a survey by the Consumer Association of Ireland which also found that some products had increased in prices by almost 40pc.
Meanwhile, consumer spending power is set to stabilise this year and improve in 2014 according to the latest edition of IBEC's Consumer Monitor. Mortgaged working households would see the greatest gain in spending power, while unemployed households and those on fixed incomes would fare less well. The employers' group added that last week's promissory notes deal is better than expected and should provide real momentum in consumer confidence.