In a twist for households, the Central Statistics Office’s latest survey reveals a sobering reality: while the median household disposable income saw a seemingly positive 5.8% rise to €55,149 last year, adjusting for inflation paints a different picture. The real figure, hovering just above €50,000, marks a troubling drop of almost 2% compared to the previous year. On a brighter note, the survey highlights a slight improvement in poverty rates, with 10.6% at risk in 2023, down from 12.5% in 2022. Notably, 13% of the population would have faced poverty without the alleviating impact of cost-of-living measures. Furthermore, 3.6% lived in consistent poverty last year, a figure that would have been 4.4% without these mitigating measures. As households grapple with inflation’s tightening grip, economic challenges persist, leaving many to navigate a delicate financial landscape.
