FX.co ★ Irish Consumer Confidence Falls in July

In July 2025, the Credit Union Consumer Sentiment Index for Ireland slipped to 59.1, down from 62.5 in June, marking a three-month low. This dip reflects growing concerns among households regarding the escalating cost of living and the repercussions of tariffs on EU exports destined for the United States. The survey segments focusing on household finances and expenditure experienced the most notable decreases. Experts point to ongoing inflation worries and indications from the government that the forthcoming October budget might feature fewer support measures as key factors contributing to this downturn. Trade instability has also been influential, as the potential imposition of a 30% US tariff on EU exports adds to the anxiety. Nevertheless, there is cautious optimism surrounding a potential US-EU trade agreement, which is anticipated to introduce a reduced 15% tariff on the majority of goods, potentially alleviating some concerns. This dip in consumer confidence occurs despite continued robustness in Ireland's domestic economy, evidenced by strong tax revenues and sustained job growth.