Tá leagan Gaeilge den leathanach seo ar fáil. Féach Éire 2024: Líonta na Bliana.
The Consumer Price Index (CPI), Ireland's official measure of inflation, dropped steadily over the course of 2024 from a high of 4.1% in January 2024 to 0.7% in both September and October 2024. It rose slightly to 1.0% in November 2024, which was the latest month for which data is available at the time of publication. These rates were down on the high inflation levels seen in 2022 when inflation peaked at 9.2% in October 2022.
Energy prices continued to fall while rent and mortgage interest rose by 4.5% and 3.8% respectively in the period from January 2024 to November 2024. Other key contributors to inflation in 2024 were the cost of eating out, up 5.0% in the last 12 months and the price of food and non-alcoholic beverages, up almost 2.0% in the 12 months to November 2024.
Looking at the National Average Prices of some staple items, as of November 2024, the price of a 2.5kg bag of potatoes was up by 18c, while dairy prices also increased with the price of two litres of full fat milk (+13c), a kilogram of cheese (+23c), and a pound of butter (+58c), all up on November 2023 prices.
Looking at the electricity market as measured by the Wholesale Price Index (WPI), the latest available data, up to November 2024, shows that wholesale electricity prices tended to be lower in 2024 when compared with the same 11-month period in 2023. The biggest changes were in the first four months of the year, where February 2024 showed the greatest year-on-year fall in prices of 46.9%.
However, in the months of May, July, September, and November 2024, wholesale electricity prices were higher than in the same months in 2023, with November 2024 showing the largest annual increase of 18.9% compared with November 2023.
The data also shows that the wholesale price index of electricity in August 2024 was down 74.1% when compared with the peak of such prices which were recorded in August 2022.
Note: The WPI, which measures the average price level of goods sold on the wholesale market, was rebased in October 2024 to 2021=100 with a change in methodology, so not all series are directly comparable pre- and post-rebase. The monthly WPI release also includes producer price indices for many products including food products and construction materials.
As a response to increases in energy prices, subsidies for domestic electricity customers were introduced in 2022, which continued in 2023 and 2024. Eligible households received total rebates of €400 in 2022, €550 in 2023, and €300 in the first half of 2024 (all including VAT). An additional reduction in VAT on both gas and electricity bills from 13.5% to 9% was made on 01 May 2022, which is currently scheduled to continue until 30 April 2025.
With €550 credits applied, the median annual residential electricity bill in 2023 was €880 (including VAT). This was €29 less than the median bill of €909 in 2022 which included €400 credits, and down 31% from the median bill of €1,268 in 2021 (See Figure 1.3 of Trends in Metered Electricity and Gas Bills 2023). Looking at usage, the median residential metered electricity consumption was 3,174 kWh in 2023, a 4% decrease from the 3,310 kWh median residential consumption in 2022 (See Table 5A of Metered Electricity Consumption 2023).
In contrast, the median residential bill for gas rose by €277 (28%) to €1,249 in 2023, compared with bills of €972 in 2022 and €740 in 2021 (See Figure 1.3). The median household gas consumption in 2023 was 7,544 kWh, a decline of 11% from the 2022 median of 8,449 kWh (See Table 5A of Networked Gas Consumption 2023).
Households in Ireland spent an average of €1,007.47 per week, the most recent estimated average weekly expenditure figures for 2022-2023 revealed.
This was 20.3% or €170 higher than the estimated figure of €837.47 in the last Household Budget Release for 2015-2016.
The highest percentage increase (63.7%) was recorded for Fuel & Light where average weekly expenditure rose by €24.55 from €38.56 in 2015-2016 to €63.11 in 2022-2023. This was primarily driven by increased expenditure on Electricity which rose from €18.17 to €33.72 per week over the seven-year period. Expenditure on Food also rose by 30.5% between 2015-2016 and 2022-2023.
It is also interesting to note that in 2022-2023, spending on Housing and Fuel & Light accounted for almost one-quarter (24.6%) of total household expenditure.
Looking at the housing costs, we can see that households that owned the property with a mortgage spent an average of €215.16 per week on mortgage payments while households that rented spent an average of €164.10 per week on rent. However, as a proportion of overall expenditure, rented households spent the highest proportion on Housing at 24.2%, compared with 22.2% for households owned with a mortgage and 10.0% for households that were owned outright.
Our analysis also reveals significant differences in spending patterns between lower and higher income households. While combined expenditure on Food, Fuel & Light and Housing accounted for more than half (51.4%) of total expenditure for households in the lowest income quintile, i.e. the 20% of households with the lowest disposable household income, this fell to around a third (35.5%) for households in the highest income quintile, i.e. the 20% of households with the highest disposable household income. Conversely, expenditure on Miscellaneous Goods, Services & Other Expenditure accounted for almost 40% of total expenditure in the highest income households, while the corresponding figure was around 24% for those in the lowest income households.
Households added around €1 to their wealth for every €6 in day-to-day consumption in 2024. Taken collectively, total income in the 12 months to September 2024 was €174bn, and of that, we spent €150bn and saved €24bn. Savings, or the addition to wealth, takes the form of growing bank deposits, pension saving, paying off debt (such as mortgages), and buying new homes.
Household expenditure and income both rose in 2024, with the ratio between the two roughly remaining constant in the last two years. Prices continued to go up in the year, but even after adjusting for that, household incomes were still increasing. This was due mainly to more income from work, as the number of people working and the average pay per worker both grew. Households also received higher social benefits, and more interest income on their deposits and other financial assets.
In the first three quarters of 2024, there were 21,634 new dwelling completions, which was a decrease of 3.1% on the same period in 2023.
We can see the number of new dwelling completions in July, August, and September (Q3) 2024 was 8,939, up by 6.3% from Q3 2023.
Note: Single dwellings are one-off dwellings connected to the ESB network. Scheme dwellings are houses that form part of a multi-unit development of two or more houses connected to the ESB network. Apartment dwellings are within a multi-unit development and are specifically identified by the ESB as apartments.
Property prices steadily increased over the course of 2024 with the Residential Property Price Index (RPPI) reaching a value of 188.5 in October 2024, which was 9.7% higher than the same month in 2023 and 15.2% above its highest level at the peak of the property boom in April 2007.
The median price of a dwelling purchased in the 12-months to October 2024 was €350,000, compared with €323,000 in October 2023. Dublin had the highest median price for each of the first 10 months of the year, reaching €470,000 in October 2024. Within Dublin, Dún Laoghaire-Rathdown was the most expensive area, where the median price of a dwelling was €645,000 in October 2024. Outside of Dublin, Wicklow had the highest median price, with a high of €455,000 in September and October 2024.
Note: All median prices mentioned above are rolling 12-month medians. The RPPI results for the previous three months are provisional and subject to revision. All figures are correct at the time of publication up to 18 December 2024.
Ireland's population was estimated to be 5.38 million as of April 2024. This was up by 98,700 people from April 2023 and was the largest 12-month population increase in 16 years since 2008 when the population rose by 109,200.
Breaking it down by age group, we can see there were 833,300 people living in Ireland aged 65 years and over in April 2024, which has grown by 156,800 people since 2018. The proportion of those in this age group also showed growth, from 13.8% to 15.5% of the total population (See Figure 1.8).
At the other end of the age scale, there were more than a million (1,010,300) people living in Ireland aged 0-14 years as of April 2024. This age group had a fall in population share between 2018 and 2024, from 20.8% to 18.8% of the total population, with a volume decrease of 4,100 (See Figure 1.8).
The number of immigrants, or those entering the State, in the year to April 2024 was estimated to be 149,200, while the number of emigrants, or those leaving the State, over the same period was estimated at 69,900. These combined flows gave positive net migration (more people having arrived than left) of 79,300 in the year to April 2024, compared with 77,600 in the previous year.
Of these migrants, 30,000 were returning Irish citizens to the State and 34,700 were Irish emigrants, leading to a net outflow of Irish citizens from the State of 4,700 people.
When looking at the age profiles of the migration flows in the 12 months to April 2024, we can see that more than half (52% or 77,200 people) of total immigrants and just under half (48% or 33,500 people) of total emigrants were aged between 25-44 years. Among emigrants, 35% were aged between 15-24 years, while only 17% of immigrants were in this age group. When looking at the youngest age group, those aged between 0–14 years accounted for 16% of immigrants compared with just 7% of emigrants (See Figure 1.9).
One interesting trend highlighted by the CSO’s Population and Labour Force Projections 2023 – 2057 release published last July, is the predicted change in our population make-up due to fewer births.
This release used Census 2022 as the basis for its projections as well as educated assumptions for fertility, mortality, and migration in order to model projected population and labour force trajectories over the next 34 years. Three projections were made using different assumptions for migration, with one set of fertility, mortality, and labour force assumptions remaining consistent for each of the projection scenarios.
Through all three projection models, there is a predicted change in our population from a natural increase (i.e. more births than deaths) to a natural decrease (i.e. more deaths than births). This change will be driven by Ireland’s ageing population and although the timing of this change depends on the scenario chosen, in all three projection scenarios it is predicted to happen in the 2040s (See Figure 1.10.).
When it comes to our ageing population demographic, we can see the number of people aged 65 years and over is set to increase significantly over the period of these projections. In fact, the number of people aged 65 years and over is set to exceed more than one million by 2030.
Growth in Ireland’s labour market continued in 2024, with the estimated number of people in employment rising to just under 2.8 million in Quarter 3 (Q3) 2024.
The employment rate, which measures the working age population aged 15 to 64 years, hit 75.3% in Q3 2024 – the highest point in 26 years since the current series began in 1998. In Q3 2024 the youth (15-24 years) employment rate exceeded 50% for the first time since 2008.
The number who were classified as unemployed was just under 130,000 people in Q3 2024, with an unemployment rate of 4.5%.
The labour market participation rate for those aged 15 years and over was 66.6% in Q3 2024, its highest level since 2008.
The chart shows the estimated participation rate for males and females over the 20-year period from Q3 2004 to Q3 2024. The participation rate for females of 61.8% recorded in Q3 2024 was the highest observed since the series began and up from 55.6% in Q3 2014. The male rate of 71.6% in Q3 2024 was up from 69.4% 10 years earlier, but down from the series high of 77.2% recorded in Q3 of both 2006 and 2007.
As of Q3 2024, average weekly earnings were €955.49, up by almost €279 or more than 41% when compared with 10 years earlier in Q3 2014. Average weekly earnings have risen in every sector of the economy over that 10-year period.
Figure 1.12 below shows preliminary estimates for average weekly earnings by economic sector for Q3 2024 and final estimates for Q3 2014.
The sector with the highest average weekly earnings in Q3 2024 was Information & Communication, followed by Financial, Insurance & Real Estate Activities. Interestingly, these were the same sectors with the highest average weekly earnings in Q3 2014.
The largest percentage increase in average weekly earnings in the 10 years to Q3 2024 was in the Information & Communication sector, up by more than €630.00 (62.5%) from €1,019.08 to €1,656.40. The second largest growth over the last 10 years was in the Administrative & Support Service Activities sector, where average weekly earnings rose by just over €270.00 (55.9%) from €483.92 in Q3 2014 to €754.29 to Q3 2024.
The sector where average weekly earnings have had the lowest percentage increase was Public Administration & Defence, up by just over €230.00 (25.3%) from €911.56 in Q3 2014 to €1,142.32 in Q3 2024. The second lowest growth was in the Transportation & Storage sector, up by just over €198.00 (27.8%) from €712.93 in Q3 2014 to €911.06 in Q3 2024.
Total exports of goods between January to October 2024 were valued at €187 billion, over €20 billion (13%) more than in the first 10 months of 2023.
Exports of Chemicals & Related Products accounted for two-thirds of the total value of goods exports in the first 10 months of 2024 at €123 billion.Total goods imports for the first 10 months of 2024 were €110 billion, which was just over €4 billion lower than the same period of 2023.
Imports of Machinery & Transport Equipment accounted for more than €45 billion (41%) of total imports for January to October 2024.
Retail Sales are a key economic indicator, and in October 2024 (Provisional), the monthly volume of Retail Sales in all businesses was up by 0.9% in the year when compared with October 2023. Over the previous 12 months from October 2022 to October 2023 there was a 0.8% increase. Excluding Motor Trades, the annual volume of retail sales also rose by 0.9% to October 2024 compared with an annual decrease of 0.5% to October 2023, although the volume of sales (excl. motor trades) has been relatively static throughout 2023 and 2024.
Looking in particular at bar sales, the volume of sales was down by 7.4% on an annual basis to October 2024 compared with an annual drop of 1.6% to October 2023.
Note: The primary purpose of the Retail Sales Index (RSI) is to provide a short-term indicator of changes in the value and volume (or quantity) of retail sales in Ireland. It provides an accurate, objective, and timely measure of retail trading and supplies a valuable guide to consumer behaviour in the Irish economy.
Consumers preference for climate-friendly transport options continued strongly in 2024 with CSO data showing growth in the number of electric and plug-in hybrid (PHEV) vehicles licensed in Ireland.
Almost half (46%) of all new private cars licensed were electric, PHEV, or hybrid to date in 2024.
The share of electric cars as the total number of new cars licensed grew from 1% in 2018 to 19% 2023. However, the number of new electric cars licensed has fallen by a quarter (25%) down to 16,786 between January and November 2024 from 22,249 when compared with the same 11-month period of 2023.
It is interesting to note that Tesla Model 3 and Model Y, which only makes electric cars, were ranked 1 and 2 respectively in June 2024 while Tesla Model 3 was also ranked number one in November 2024 as the most popular make and model of new private car licensed.
At the same time, the share of diesel cars in Ireland is falling. In 2018, 54% of all new cars licensed were diesel cars compared with 27% in 2023. However, in the first 11 months of 2024, the number of diesel cars licensed had risen by 3% when compared with the same period of 2023.
More than 6 million passenger journeys (excluding LUAS) were taken in week 41 of 2024 (the week beginning 07 October 2024), the highest number as of October 2024. The lowest number of journeys taken in a week was during the first week in January, or week 1 (the week beginning 01 January 2024), where the figure was just over 3.7 million journeys. The chart (Figure 1.16) shows 2024 year-to-date data for all public transport, excluding LUAS.
Note: The data on passenger journeys by public transport is taken from the Transport Dashboard. This dashboard is a set of the most up-to-date transport indicators available from the CSO. The dashboard is updated monthly to keep users informed of the latest changes in the transport sector. Further transport data can also be found on the Transport Hub, which contains a wide range of transportation-related information.
There has been a significant improvement in the energy efficiency of new homes being built in Ireland, as well as a shift away from using fossil fuels as the main space heating fuel.
In the first nine months of 2024, there were more than 110,000 new domestic Building Energy Rating BER audits published. Almost 18,000 of these were for dwellings constructed between 2020-2024, of which 97% received an A rating. Dwellings from earlier periods of construction received comparatively fewer A ratings, reflecting an increase in energy efficiency standards for new builds. For example, just 13% of dwellings built from 2005-2009 were A-rated in the BER audits published during the first nine months of 2024 (See Figure 1.16 and Domestic Building Energy Ratings Q3 2024).
As well as being more energy efficient, newer dwellings were also more likely to use electricity as the main space heating fuel, compared with fossil fuels. BER audits in the first nine months of 2024 showed that electrical heating was used in 98% of those dwellings built from 2020-2024, compared with 21% in the dwellings from 2005-2009 and 20% for those from 2000-2004 (See Domestic Building Energy Ratings Q3 2024 for more detail).
For non-domestic or commercial buildings, more than 4,000 BER audits were published in the first nine months of 2024. This made for a total stock of more than 78,000 non-domestic BERs up to 30 September 2024. The most energy efficient building type in this total stock are Schools & Colleges, with 47% of those audited receiving an A-rating (See Table 1, Table 2, and Table 3 of Non-Domestic Building Energy Ratings Q3 2024).
Note: Since 01 January 2009, a BER certificate and advisory report is compulsory for all homes being sold or offered for rent. In total, up to the end of September 2024, 1.2 million dwellings have been awarded an energy rating, compared with the 2.1 million households (occupied and vacant) enumerated in Census 2022.
There was a significant difference in the number of recorded crime incidents for some offence types when we compare the 12 months to Q2 2024 with the corresponding periods during the COVID-19 impacted years of 2020 and 2021. The year-to-date figure for a given quarter is the total number of crimes recorded in the 12 months prior to the end of that quarter.
In the 12 months to Q2 2024, there were 76,501 recorded crime incidents of Theft & Related offences. This was the highest number of incidents of Theft & Related offences for the same period in any of the years since 2020. There were 60,253 recorded incidents of this offence type in the year to Q2 2020 and this figure fell further to 46,708 incidents in the same period in 2021. As Public Health Restrictions eased, there was an increase in the year to Q2 2022 to 57,023 incidents, and again for the same period in 2023, when there were 71,147 recorded crime incidents.
Among the other offence categories, the 9,858 recorded crime incidents of Burglary & Related offences between Q2 2023 and Q2 2024 was still significantly lower (31%) than the 14,389 incidents recorded in the 12 months to Q2 2020. There were 9,002 incidents of this type in the year to Q2 2021 and this figure rose to 9,817 in the same period in 2022 before falling to 9,020 incidents in the 12 months to Q2 2023.
For the other offence types, the most notable difference between the 12 months to Q2 2024 and the COVID-19 affected years was in the areas of Controlled Drug offences, which have fallen significantly. There were 16,450 incidents of Controlled Drug offences recorded in the 12 months to Q2 2024. This was down by more than a quarter on the 22,592 incidents recorded in the same period in 2020 and the 22,795 incidents in 2021.
There were 1.3 million fewer nights spent in Ireland by overseas visitors in 2024 compared with 2023. An estimated 45.3 million nights were spent by overseas tourism visitors to Ireland up to November 2024. This was down 3% from the 46.6 million nights for the corresponding period in 2023, the CSO’s Inbound Tourism series shows. Overnight visitors from overseas spent an estimated €5.7 billion (excluding fares) up to November 2024, up 13% on 2023.
We can see the number of inbound tourism trips to Ireland in 2024 peaked during the summer months, and in August in particular when an estimated 6.7 million nights were spent by overseas tourism visitors to Ireland. In terms of where our tourists come from, in August 2024, around 2.6 million nights, or just under 40%, were attributed to visitors from Europe (excluding Great Britain), while a further 1.5 million nights (23%) were attributed to visitors from the United States and Canada.
Note: This series is based on the CSO Passenger Survey, which is carried out at Irish airports and seaports. The Inbound Tourism series does not capture data on residents of Northern Ireland visiting Ireland as a tourism destination.
Please be advised that this release only provides data up to October or November 2024 in most cases, depending on the publication schedule of the section. Full year results for each of the topics will be published in Q1 2025. Our publication schedule can be viewed on our Release Calendar.
The Year in Numbers series follows in the footsteps of the Statistical Yearbook of Ireland, which was first published in book format in 1931 as a compendium of all statistics published by the Central Statistics Office (CSO).
With the internet now providing easy and timelier access to our data, our yearly compilation has evolved into our Ireland: The Year in Numbers series. This is the third release in the series and aims to provide a glimpse of the volume and breadth of the information published by the CSO last year through the lens of key themes. In today’s release, we provide accessible data and charts on topics such as Inflation, Housing, and Population, which help tell the story of 2024.
The CSO has been trusted for more than 75 years to gather, protect, analyse, and publish information about Ireland, which is freely available to everyone. The CSO relies on households and enterprises to participate in our surveys throughout the year, which allows us to accurately capture life in Ireland. We thank everyone for their continued participation and support of CSO surveys. Between our surveys and new data collection methods, the CSO can tell the story of Irish society with a unique level of accuracy and detail.
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2024 Key Highlights