Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

savings accounts inflation in ireland and europe?

  • 08-02-2011 12:15pm
    #1
    Closed Accounts Posts: 4,584 ✭✭✭


    I was doing a little research since all this craziness started around 2008.Before 2008 I hadn't/haven't a clue about banking or anything like that so i started reading about it.Today i was looking at savings accounts with various banks as a friend said he was getting 3.5% with the permanent tsb.
    So you think you're getting 3.5 on your money but what about dirt tax and inflation?

    if you deposit 100 at 3.5% interest = €103.50

    minus 27% of 3.5% which is 0.945% €102.52

    minus the rate of inflation = 2.5% which leaves you
    €100.02


    Now according to this site here Ireland's inflation rate is 0.60%
    but isn't a Euro just a Euro?

    What's going on ?
    Is Ireland's 0.60% just prices in Ireland and the 2.5% the EU average?


Comments

  • Closed Accounts Posts: 5,092 ✭✭✭catbear


    Well inflation can be different for everyone. No doubt fuel costs are having an impact but if you don't have a mortgage then you may still be experiencing deflation in most things. As I understand it mortgage repayment increases make up a big part of calculating inflation in Ireland.


Advertisement