Irish consumer sentiment dipped slightly in July as cost-of-living worries persisted, according to the latest Credit Union Consumer Sentiment Survey.
The overall index fell to 61.6 from 62.2 in June, reflecting ongoing pressure from rising living costs and an uncertain economic outlook. While this reading remains well below the long-term average of 83.2, it is above the 40-month low of 53.3 recorded in April after fuel prices surged due to the Middle East conflict.
All three sub-indices - current conditions, consumer expectations, and the economic outlook - declined modestly. The survey underscores that cost-of-living pressures dominate Irish consumers' concerns and have grown more prominent over the past year. Weather variations, by contrast, have had little measurable impact on sentiment in recent years.
David Malone, CEO of the Irish League of Credit Unions, described the results as "disappointing but not entirely surprising." He noted that despite some positive economic developments, households remain preoccupied with managing everyday expenses, with cost-of-living concerns far outweighing other economic issues.
The July survey period also coincided with negative employment news, including high-profile layoffs at Aer Lingus, TikTok, and certain Microsoft subsidiaries. Reports highlighted AI-related job risks, while official data showed a slight rise in unemployment in June and a small drop in payroll employment in May.
Although sentiment on jobs weakened only marginally in July, this follows sharper declines earlier, making employment the survey component with the largest deterioration over the past 12 months.