New figures from the Central Statistics Office show that households saved 14.3% of their income in the third quarter of 2024, up on the second quarter when it was 12.9%.
The saving rate is the proportion of income that is left over after current consumption.
Today's figures show that the unadjusted saving of households came to €7.8 billion, of which €4.9 billion was added to capital assets, mainly homess. The remainder was added to deposits, pension funds or other financial assets.
The CSO said the higher volumes as well as higher prices contributed to consumer spending increases in the third quarter of this year.
Overall household income also rose due to higher earnings from work and more investment income, such as deposit interest, the CSO added.
