The cost of living has rapidly overtaken housing as a prime concern, with just 7% ranking rising property prices as their biggest worry despite an annual price increase of over 15%.
And the growing public unease comes ahead of an anticipated rise in interest rates this week.
Two in five people expect to be worse off by the end of the year than they were at the start as concerns over the economy grow, a worrying new survey has shown.
With 40 per cent saying they will be worse off by the end of 2022, just a fifth of people believe they will be better off, according to research from insurance giant Aviva released last night.
The war in Ukraine and the soaring cost of goods and services are taking their toll, with 70% of people ranking one of these as their top worry.
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With price hikes hitting everything from food and fuel to housing, no one will be "left untouched" in the coming economic storm, the Consumers' Association of Ireland has warned.
With inflation reaching record highs in the Eurozone, the European Central Bank (ECB) looks all but certain to announce on Thursday that its years of bond buying stimulus are over, paving the way for the first interest rate increases in over a decade.
The move will drive up mortgage repayment costs for already hardpressed householders.
Prices in Ireland are rising at their fastest rate in almost 22 years. Inflation is at 7%, according to the latest official figures - its highest since November 2000.
Spiralling prices are being driven by soaring fuel costs. Over the past 12 months, gas is up almost 54%, petrol is up 24%, diesel is up 40% and electricity is up nearly 28%.
Investors and the money markets want more clarity on what comes next, and whether raising interest rates might be speeded up to get ahead of soaring prices.
As rising prices are affecting the whole economy, no person is "left untouched", consumer campaigner Dermott Jewell warned.
The head of the Consumers' Association of Ireland said: "It can even have a double or triple effect or even quadruple effect depending on what level an individual is at.
"It's not surprising that we see potentially 40% of the population worse off. That's a very worrying figure. It's very high. The key is what kind of an impact will it have on real life? The bills that must be paid as opposed to those that are a little bit discretionary?
"It's relative to the situation where people are choosing between eating and paying bills and heating and paying bills."
The survey looked at attitudes to personal finance and wealth, and asked if people expect to be better or worse off by the end of the year. It found almost four in ten believe they will be worse off.
"This is a significant proportion of people, and highlights just how many people are feeling under financial pressure right now. From food prices to fuel prices, there seems to be little relief on the horizon in terms of rising costs," the Aviva report said.
Aviva's Eoin Kennedy added: "On the brighter side, over a third of those in the 25-34 and the 35-44 age groups expect things to improve financially for them this year, which is more than the national average at 25%."
Despite the doom and gloom, KBC Bank chief economist Austin Hughes believes the overall picture is improving.
He said: "When you look at the jobs numbers and the tax numbers from last week they suggest that there are more people in aggregate getting better."
However, he added: "I do think there's a concern that things are going to get worse. That is very clear.
"There's two elements to that. One is the known nasties, which are oil and now food price inflation. And then the unknown element about how much further the war in Ukraine could cause things to worsen, how much more expensive the property market could become, so I think in that sense it is very understandable that people are on that mindset.
"But I think the cold reality, while still very challenging and difficult for many, is probably not as bad in macro terms.
"For the individual, the cost of fuel, the cost of groceries have all gone up, the cost of heating the house and more to come.
"All those elements are there but if you look at VAT receipts, up 27%, income tax up 17% or 18%, there's still some life out there."
He pointed out also that the world was a far more "uncertain place now and that makes people nervous", adding: "So even if you are doing okay, you will fear that you're going to be worse."
Meanwhile, more new houses coming up for sale 'may be easing the growth in property prices', a new report from the Banking and Payments Federation Ireland (BPFI) shows.
However the BPFI warns the slowdown in prices "could be offset" by cost pressures on the construction industry.
BPFI chief Brian Hayes said: "Price developments in the Irish residential property market have been driven mostly by the lack of supply in the market.
"Average residential property prices have been increasing since early 2021. Nationally property prices have more than doubled from their low in early 2013."
The bounceback in housing starts since the end of lockdown is also seen in the latest BPFI housing report. There were almost 7,000 starts on new builds in the first three months of this year compared with just 2,875 a year earlier - an increase of 143%. Completions jumped from 3,923 a year ago to 5,669.
