The CSO Survey on Income and Living Conditions for 2018 has revealed an increase in household income and a reduction in the "at risk of poverty" rate.
The results show an 8.5% increase in the median annual household disposable income to €42,865, up from the 2017 value of €39,499. The mean household disposable income rose 6.2% from €48,476 in 2017 to €51,458 in 2018.
Equivalised income - a measure of household income that takes account of household size and composition - also increased. The median equivalised income rose 9.6% from €20,869 in 2017 to €22,872 in 2018. Mean equivalised income also increased 7.1% from €24,983 in 2017 to €26,766 in 2018.
The survey also shows a drop in the "at risk of poverty" rate, defined as "the share of persons whose equivalised income was less than 60% of the national median equivalised income". The 2018 figure stands at 14%, down from 15.7% in 2017.
Enforced deprivation - defined as not being able to afford two or more deprivation indicators such as keeping the home adequately warm or buying presents for family or friends - also decreased, from 18.8% in 2017 to 15.1% in 2018.
Further findings have revealed that the most common types of deprivation experienced by Irish households were an inability to afford replacing worn out furniture (17.8%), to afford to have family or friends for a drink or a meal once a month (11.7%) and to afford a morning, afternoon or evening out in the last fortnight (10.3%).
The consistent poverty rate - a measure which includes persons both at risk of poverty and who are also experiencing enforced deprivation, decreased from 6.7% in 2017 to 5.6% in 2018.
The CSO have said that increases in income and the decrease in enforced deprivation were statistically significant, while the decreases in the at risk of poverty rate and consistent poverty rate were statistically significant when compared to 2016 figures.