Spending on groceries up 10% last month after steep decline in January

Spending by customers increased by 4% in February compared to January, with large increases seen with spending in groceries, health and beauty, and with airlines, AIB data shows

Overall consumer spending increased by 4% in February compared to January. 

Spending on groceries increased by 10% in February after a steep decline in January despite inflation continuing to decrease, new data from AIB shows.

According to data from AIB’s Spend Trend, spending by customers increased by 4% in February compared to January, with large increases seen with spending in groceries, health and beauty, and with airlines.

Spending on groceries increased by 10% in February after falling by 24% in January. Spending on health and beauty increased 8% month-on-month. 

AIB customers spent €210m with airlines during January and February, up 10% on the same period in 2023.

The bank said the start of the year was “traditionally a busy time for booking flights”, however, this level of spending shows “more people than ever are planning a trip abroad this year”.

Head of small and medium-sized enterprise banking at AIB John Brennan said it was also a strong month for hospitality, with spending in pubs increasing by 27% in the month, “likely driven by rugby fans cheering on Ireland in the Six Nations”. 

In line with the growing number of electric cars on the road, the data shows spending on electric car charging by the bank’s customers increased from €6,769 to €11,003.