New figures from the Central Bank show that total card spending hit the highest value in August since it started taking a record of the figures.
The Central Bank said that total card spending rose by 10% to €8.8 billion in August compared to July - mainly driven by a monthly increase of €626m within debit card point of sale spending to total €6.5 billion.
It noted that overall card expenditure was 15%, or €1.17 billion, higher in August compared to the same time last year, when Covid-related restrictions still limited certain in-person spending.
Meanwhile, ATM transactions worth €1.2 billion and point of sale transactions worth €7.6 billion also saw a monthly increase of 5% and 11% respectively.
The volume of point of sale card transactions was 11% higher in August when compared to July, while the average value of transactions remained relatively unchanged at €43.93 per transaction.
Today's figures also show that total card expenditure outside of Ireland increased by 1%, or €5m, in August when compared to the previous month.
On an annual basis, spending outside of Ireland jumped by 56% or €194m as more people went abroad for holidays.
The Central Bank figures also show that total online spending grew by 12% to €3.4 billion in August, compared to the previous month and was up 23% on the same time last year. Online spending was 45% of overall PoS spending in August, it added.
Looking at the various sectors, the Central Bank said that compared to August of last year - when public health restrictions were in place - total retail spending increased by 9%, or €285m, on the back of a 9% increase in groceries to €1.4 billion.
It noted that electrical goods was the only retail sector to record a decrease of 9% while groceries, clothing and hardware sectors recorded annual increases.
Spending on services recorded an annual increase of 22%, or €332m, with the rise again predominantly driven by increased spending in the transport sector, which rose by 80%.
Meanwhile, total social spending increased by 22%, or €165m in August of this year compared to the same month last year.
This was driven by an increase in restaurant spending, which rose by 25%, or €124m, while spending on entertainment increased by 16%, or €39m, the Central Bank said.
