Spending on debit and credit cards fell in October, according to figures published by the Central Bank.
Spending was down by €250m or 3% when compared to the previous month, to €7.9 billion.
However when compared with last October, total card spending had increased by 9% or €660m.
The decline was driven by a fall in spending on services, while spending in the retail sector increased.
Today's data shows that the average value of transactions remained relatively unchanged at €44.45 per transaction in October.
In-store spending accounted for €3.6 billion last month, and was still the main method for card expenditure at 53%.
However, the figures show that in-store spending was down 1% on the previous month.
Meanwhile, online spending dropped by 4% to €3.2 billion.
Card spending outside of Ireland dropped by 13% or €58m when compared to September.
When compared to October 2021, this was a jump of 21% or €66m.
The Central Bank figures show that total retail spending increased by 2% to €3.2 billion in October when compared to September.
Spending increased across all retail sectors on a monthly basis, with clothing up 9%.
On an annual basis, total retail spending increased by 6% or €185m. This was mainly driven by a 7% or €80m year-on-year increase in the consumption of groceries and perishable products.
However, the data reveals that total spending on services decreased by 12%in October when compared to the previous month.
This was driven by a significant reduction in spending on both education and accommodation which contracted by 56% and 13% respectively with a combined decrease of €141m.
Spending on services recorded a year-on-year increase of 14% or €190m.
The headline increase was predominantly driven by increased spending in the transport sector, which rose by 34% year-on-year.
The figures show that total social spending decreased by 1% in October compared to September.
When compared to the previous year, social spending increased by 10%, or €67m.
This was driven by an increase in restaurant spending, which rose by 15% or €64m, while spending on entertainment increased by 1% or €3m.
A separate report published by the Central Bank today show that household deposits grew by the largest amount in fifteen months in October, increasing by €1.6 billion or 1% over the month.
Household deposits now stand at €149 billion, higher than at any previous time.
The Central Bank said the deposits have concentrated in overnight accounts in recent years, as low interest rates across all deposits categories reduced the incentives to invest in notice or fixed term accounts.