Growth in disposable income 'wiped out' by inflation

Wages grew by 6% during July and September compared to the same period in 2022 but annual inflation was running at over 7%. 

Household disposable income was “largely flat” between July and September last year with wage growth failing to keep up with inflation as the savings rate also declined, new data from the Central Statistics Office shows.

According to the latest institutional sector accounts, during those three months, overall household income, which is driven by wages, was €32bn during the July to September period which was 6% higher than the same period in 2022.