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2 questions

  • 12-11-2013 12:03pm
    #1
    upstairs for coffee
    Registered Users, Registered Users 2 Posts: 553 ✭✭✭


    What is the current rate of inflation in Ireland? The CSO is useless.

    Should I take my money out of the credit union and put it into the bank?


Comments

  • #2
    sin_city
    Registered Users, Registered Users 2 Posts: 899 ✭✭✭sin_city


    You should purchase some gold or silver with between 5% and 10% of your cash if you are worried about inflation.

    Invest some in some shares and keep some in the credit union.

    Just pray that there's no Cypriot situation if you leave all your cash in a bank/credit union.

    I mean, that could happen in Ireland....we've strong banks...LOL


  • #3
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,372 Mod ✭✭✭✭andrew


    moved to markets and investments

    By the way OP, here's Irish inflation data:

    http://www.tradingeconomics.com/ireland/inflation-cpi

    Inflation is just 0.1%(!)

    What interest rate are you getting in the credit union? Unless you've any particular reason to keep it in the Credit Union, then you may as well put it in whatever bank offers the best rate.


  • #4
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    There is pretty much no inflation in Ireland and probably wont be for a while. The only price I have seen in the last 3 years that isnt tax related is a chicken fillet roll going to €2,50 from €2( I imagine it was always a loss maker).

    Dont touch gold or silver. They are too speculative and a safe low risk share like Unilever would be a better option. Rates are now so low in the bank that after DIRT you might only get about 1% on instant access. If you might be considering getting a loan in the future the CU might be your best option for saving.


  • #5
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    hfallada wrote: »
    There is pretty much no inflation in Ireland and probably wont be for a while. The only price I have seen in the last 3 years that isnt tax related is a chicken fillet roll going to €2,50 from €2( I imagine it was always a loss maker).

    Dont touch gold or silver. They are too speculative and a safe low risk share like Unilever would be a better option. Rates are now so low in the bank that after DIRT you might only get about 1% on instant access. If you might be considering getting a loan in the future the CU might be your best option for saving.

    are inflation figures an real indication of place increases for most people.

    Healthcare , alcohol, food , even some houses have all seen large increases this year.


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