Less people saving due to rising cost of living

Less than 38 per cent of people think now is a good time to save, according to new Bank of Ireland figures.

The cost of living is said to be the reason for a 7 per cent drop from February to May in the amount of consumers saving. Survey results suggest people are dipping into their savings, while also recognising the effects of low interest rates. Inflation and the war in Ukraine have surpassed Covid as people's main concern.