Spending in bars and restaurants falls significantly in September

Expenditure in the restaurants and dining sub-sector fell by more than 14% in September, Central Bank figures show 

The main merchant driving this drop in spending was drinking places, the Central Bank said, which declined by more than 21% from August

Spending in restaurants and dining places fell significantly in September despite expenditure in the month remaining largely stagnant, new figures show.

New data released by the Central Bank of Ireland on Wednesday found that social spending fell by almost 9% in the month, marking the largest sectoral fall.

The largest contributor was the restaurants and dining places sub-sector, which fell by more than 14% in September. However, when compared to the same period last year, spending in this sub-sector rose by almost 3%.

The main merchant driving this drop in spending was drinking places, the Central Bank said, which declined by more than 21% from August, likely reflecting seasonal changes following the warmer summer months. 

On an annual basis, spending dropped by 0.87%, the regulator found. 

Meanwhile, agricultural spending soared by almost 12% in September, with co-op expenditure as the main driver of growth. 

The Central Bank said this was likely supported by the National Ploughing Championships held during the month, alongside agricultural activities in preparation for the winter months.

Overall, the regulator said card spending in September amounted to almost €9.5bn, reflecting a modest decline of 0.27% from August. 

Transaction volumes stood at 236.3m, dropping by just over 3% in the month. Despite this short-term dip, the Central Bank said both value and volume displayed strong annual growth, increasing by almost 10.5% and 5.7% respectively, compared with September 2024.

Domestic card spending in the month increased marginally to €7.8bn. Despite this increase in value, transaction volumes declined, dropping by almost 2.5%, indicating that the rise in card spending is primarily driven by an increase in the average transaction value. 

The average domestic card transaction amounted to €39.40, up by €1.15 from August. 

According to the Cetral Statistics Office (CSO), the consumer price index declined by 0.2% over the month, suggesting while overall inflation declined, prices in specific higher value sectors increased such as clothing and footwear (2.4%), miscellaneous goods and services’ (0.5%) and housing, water, electricity, gas and other fuels (0.2%).