New figures from the Central Statistics Office show that households saved 14.1% of their income in the third quarter of this year, up from 12.9% in the second quarter of 2024.
The saving rate has averaged around 14% since the middle of 2022.
Recent figures from the Central Bank show that households' net deposits into banks in Ireland rose by €1.3 billion in the third quarter.
The CSO said that after adjustments for seasonal patterns, income rose slightly in the quarter while consumption was largely unchanged, which resulted in a higher saving rate.
Today's figures show that households added €1 to their wealth for every €6 in day-to-day consumption in the third quarter of the year.
Taken collectively, people's income in the three months amounted to €44 billion, while they spent €38 billion and saved €6 billion.
The addition to wealth takes the form of buying new homes, growing bank deposits, pension saving and paying off debt.
The CSO said that unadjusted household consumption was €37 billion in the three months from July to October, up from €35 billion the same time last year.
Household incomes rose in the quarter as pay per worker went up and more people were in work, the CSO noted.
