DUBLIN - Irish consumer sentiment slipped in February as concerns about inflation and the conflict in Ukraine replaced those around COVID-19, a survey showed on Thursday.
The KBC Bank Ireland consumer sentiment index slipped to 77.0 from 81.9 in January, but remained ahead of the 74.9 registered in December when COVID-19 fears were more acute.
"Irish consumer confidence buckled on increasing worries around living costs in general and housing costs in particular while emerging fears around conflict in Ukraine more than outweighed easing COVID concerns" said KBC Ireland chief economist Austin Hughes.
Annual Irish inflation hit a 20-year high of 5.5% in December, while residential property prices posted their highest annual growth in over six years.
The subindex with the sharpest decline was the 12-month outlook for the Irish economy, with twice as many consumers surveyed expecting it to weaken as expect it to strengthen.
The employment subindex improved on the previous month, however, amid signs of strength in the jobs market, Hughes said.