Weekly household spending now exceeding €1,000, CSO finds
Average weekly expenditure on lighting and fuel increased by €24.55 from 2015-2016 to €63.11 in 2022-2033 period, the CSO found
Household spending on fuel and lighting felt its biggest increase in the last few years, with consumers now spending €63 a week to light and heat their homes, new figures released by the Central Statistics Office reveal.
It marks a 64% rise over the past seven years, with spending on heating and lighting homes, combined with accommodation costs, accounting for around a quarter of the cost of running a typical home, the survey shows.
Average weekly expenditure on lighting and fuel increased by €24.55 from 2015-2016 to €63.11 in 2022-2023, the CSO found, with the rise underpinned by spending on electricity which rose from €18.17 to €33.72 per week over the seven-year period.
Spending on all other fuels, including oil and gas, also increased significantly, with overall expenditure for a typical household totalling €1,000 a week.
Urban households spent 6.5% more than rural households at €1,030 per week compared with €968.
Electricity expenditure was based on the amount the household actually paid, after the application of the Government electricity credits.
Experts have warned it could take at least two years before consumers get back the standard of living they had before the Russian invasion of Ukraine led to record inflation.
"While the Government’s energy credits helped alleviate the financial pressure which many consumers felt last winter, the last of those energy credits was paid in April," said Paul Walsh, spokesman for Peopl Insurance.
"Unless the Government unveils more energy credits in its upcoming Budget, many households are likely to struggle with energy bills this coming winter."
Mr Walsh added that the significant cost hikes has had a "huge impact on people, particularly those on lower incomes."
"While inflation has started to fall in recent months, Irish households will be feeling the impact of the record-high inflation of recent years for some time yet."
Households with a mortgage had the highest weekly expenditure in 2022 to 2023 at €1,448, which was roughly double the expenditure of households that rent, which came in at €720 a week.
Households with a mortgage also spent the most on housing at €321 a week, which was almost double the €174 spent by households that rented and more than three times the amount of €92 spent by households that were owned outright.
Households with a mortgage spent an average of €215 per week on mortgage payments for their primary dwelling, while those that rented spent an average of €164 per week on rent.
Meanwhile, spending on food shot up by 30% in the seven-year period.
Expenditure on durable goods including furniture and household appliances rising 27%, the CSO said, while spending on non-durable goods, such as cleaning products and toiletries, increased just under 25%.
Expenditure on clothing and footwear increased by 17.5%, while spending on transport increased by 14.5% as a result of higher petrol and diesel prices.
Households in the highest income quintile spent almost four times the amount of those in the lowest income quintile at €1,757.16 per week compared with €444.
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