Inflation rate hits renters and under-35s hardest in Ireland

Young households see inflation rise above the national rate

Households headed by someone under 35 recorded inflation of 4.4% in September, the highest rate among the groups measured. The national average stood at 4.1%.

The figures also show a clear difference depending on whether people rent or own their homes. 

Renters faced inflation of 4.3%, while households paying off a mortgage recorded 4.1%. For those who own their homes outright, the rate was lower at 3.7%.

These differences are linked to how people spend their money. CSO statistician Edel Flannery explained that each household has its own spending habits, meaning changes in the cost of goods and services affect people differently.

For lower-income households, a larger share of the budget goes towards essentials such as energy and rent. 

Electricity, gas and other fuels had the biggest impact on inflation for the lowest-earning quarter of households, followed by rent and transport costs.

Higher-income households experienced a different pattern, with transport, restaurants and hotel stays contributing more to their inflation rate.