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Households

Households

The Household Saving rate was 13.4% in Quarter 1 2025

CSO statistical release, , 11am
Table 1.1 Seasonally Adjusted Gross Household Saving by Component (€million)
 Total Disposable Income (B.6g + D.8)Final Consumption Expenditure (P.3)Gross Saving Ratio
2024Q445,43139,39113.29%
2025Q145,77839,63213.42%

The seasonally adjusted household saving rate in the first quarter of 2025 was 13.4%. This was largely unchanged on the previous quarter and in line with the average since 2023. As Table 1.1 above shows, both income and expenditure rose, and Total Disposable Income (TDI) grew by more than Final Consumption Expenditure.

Households used their savings to add to their wealth in the form of real assets (mainly new homes) and financial assets (such as bank deposits). Unadjusted, saving (B.8g) was €6.4bn in the quarter and capital spending (P.5) was €3.5bn. Households also increased their assets in pension funds (D.8) by €1.0bn. Figures from the Central Bank of Ireland show that households' net deposits into banks in Ireland rose by €3.0bn over Q1 2025. Loan liabilities of households to banks (mainly mortgages for house purchase) were up €0.7bn in the three months, meaning households borrowed more than they repaid. Households' financial assets also include other items such as life assurance funds and shares. Full accounts of assets and liabilities in financial instruments will be published by the Central Bank.

The accounts have been revised since the Household Saving release in June 2025. The revisions incorporate new data from the main Quarterly National Accounts released on 08 July 2025. These include upward revisions to household Final Consumption Expenditure (P.3), which lowers saving and hence the saving rate.

The seasonally adjusted data series which includes Gross Disposable Income, Personal Consumption of Goods and Services and Gross Saving of the Household including Non-Profit Institutions Serving Households (NPISH) is available on PxStat. Only the most significant transactions are shown in the table for each sector in this release: the entire unadjusted series for all variables published in this release are also available at the same link. Price-adjusted Total Disposable Income and Final Consumption Expenditure of Households are shown in PxStat ISQ04. See Background Notes for definitions of the terms used.

Saving ratio
2022Q1 16.35%
2022Q2 16.12%
2022Q3 15.13%
2022Q4 12.86%
2023Q1 13.17%
2023Q2 11.46%
2023Q3 12.11%
2023Q4 10.64%
2024Q1 14.79%
2024Q2 12.18%
2024Q3 13.95%
2024Q4 13.29%
2025Q1 13.42%

Household Income

The largest component of household income is Compensation of Employees (CoE): this made up €41bn of the €46bn TDI in the quarter. At current prices seasonally adjusted COE was €1.3bn higher (+3.3%) compared with 2024 Q4. There was a rise in the number employed and employed people had higher average earnings in the quarter. Figure 1.2 illustrates the differences in CoE by economic sector in the quarter compared to Q4 2024 after adjusting for seasonal factors. The biggest growth was in Public Administration (+€331m or +3.0%) and the Professional, Scientific and Technical sector (+€309m or +5.3%). Changes were smaller in other sectors but all showed an increase in the quarter.

sectorChange (Seasonally Adjusted) since Q4-2024 €m
Agriculture, Forestry and Fishing0.286128744004031
Industry (excl. Construction)126.01955366249
Construction18.39162740389
Distribution, Transport, Hotels and Restaurants123.543304504669
Information and Communication156.779607
Financial and Insurance Activities218.5675586192
Real Estate Activities10.249889
Professional, Admin and Support Services308.993521
Public Admin, Education and Health330.658731302301
Arts, Entertainment and Other Services1.29414622557806

Comparing the equivalent quarter of 2024, before price or seasonal adjustment, higher take-home pay meant higher taxes (D.5) and PRSI (D.61) paid by households (see Table 1.2  below). Households also received more in social protection and pension payments (D.62). The net miscellaneous transfers (D.7) were significantly higher in 2024 Q1, reflecting the recording of a household electricity credit in that period.

Gross Disposable Income (B.6G) of households was €45bn in Q1 2025 before price and seasonal adjustment (that is, nominal unadjusted). This was an increase of €2bn (4%) on Q1 2024. TDI, which also includes the adjustment for the change in pension entitlements (D.8), was €46bn in Q1 2025. After accounting for inflation and seasonal factors, household TDI in real terms grew by 1% in the twelve months and was down 1% compared to 2024 Q4 (see Pxstat table ISQ04). Figure 1.3 shows TDI before and after adjustments for the quarter.

TDI Current Price Unadjusted TDI Current Price Seasonally Adjusted TDI Constant Price Seasonally Adjusted
2020Q1 32.97832 33.57088 35.79512
2020Q2 32.61717 31.65198 35.3257
2020Q3 31.65479 31.15599 34.22349
2020Q4 31.32021 32.23177 35.68434
2021Q1 32.23354 32.83837 35.12521
2021Q2 34.90151 33.90027 36.59952
2021Q3 35.73852 35.11222 37.54751
2021Q4 34.24823 35.3464 37.00922
2022Q1 35.12854 35.65156 35.90636
2022Q2 38.0352 37.05096 37.0881
2022Q3 38.69101 37.99175 37.66474
2022Q4 37.0289 38.30146 37.06539
2023Q1 39.43539 39.74462 37.55334
2023Q2 41.3053 40.4358 37.14683
2023Q3 41.70677 41.02557 36.71597
2023Q4 40.38837 41.68113 37.18205
2024Q1 44.03388 44.18857 39.17255
2024Q2 44.61161 43.86216 38.32411
2024Q3 45.39673 44.74948 38.83962
2024Q4 44.17483 45.43057 39.77203
2025Q1 45.70694 45.77774 39.60617

Consumption

In Q1 2025 households' spending on goods and services was €39bn before price or seasonal adjustments. Household consumption is normally lower in the January-March period (Q1) than in October-December (Q4), and in the first quarter of this year it was down 5% unadjusted on the last quarter of 2024. However, once seasonal factors are taken into account, final consumption of households was up slightly (+1%) in the first quarter of 2025. When the effect of prices changes is also removed, the volume of consumption was unchanged in the quarter (+0%). In the consumer-facing sectors of the Services Index the volume of Accommodation services was up 1%, while Food Service was down 3%. The Retail Sales Index seasonally adjusted volume of sales in Bars was down 7% but up overall (+1%). The figures are seasonally adjusted and price adjusted, so the fall in consumption in bars and restaurants is in addition to the usual fall-off after Christmas.

The Consumer Price Index (CPI) shows that prices for consumer goods and services at the end of the quarter (March 2025) were up 2.0% when compared with a year earlier (March 2024). The most significant increases in the 12 months to March 2025 were seen in Alcoholic Beverages & Tobacco (+4.2%) and Food & Non-Alcoholic Beverages (+3.3%). The annual change in Alcoholic Beverages & Tobacco costs reflects higher prices for tobacco products and alcoholic drinks sold in supermarkets and off-licences. Clothing & Footwear (-1.9%) and Furnishings, Household Equipment & Routine Household Maintenance (-0.8%) were the only divisions to show a decrease when compared with March 2024.

Table 1.2 S1M Households and NPISH Summary