Majority of Munster residents will cut back on essentials due to cost of living crisis

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73 PER CENT of Munster residents say they are planning on cutting back on essential items in 2024 if the current cost of living crisis continues.

That’s according to PTSB’s latest ‘Reflecting Ireland’ report, which warned also of a nationwide risk of decreased discretionary spending on clothing, eating out, and holidays, in response to the current economy.

Despite this, the bank’s quarterly research into consumer behaviour and attitudes also revealed a fall-off on those expecting the economy to worsen this year from 63 per cent at the start of 2023 to 47 per cent in January 2024.