Irish people had significantly more disposable income last year compared to 2017, Central Statistics Office figures state.
The Survey on Income And Living Conditions In Ireland found the average equivalised disposable income was €22,872, an increase of 9.6% on the €20,869 of two years ago.
Equivalised income is a measure of household money that takes into account the differences in the size and make-up of a home.
Figures for last year also showed a slight decrease in the number of people who are “at risk of poverty”.
This rate, which measures the number of people whose income was less than 60% of the national median equivalised income, was 14.0% last year compared to 15.7% in 2017.
Renters were found to be more likely to be notably suffering financially as a result of moving out.
An analysis of consistent poverty rates showed the rate for those living in “owned” dwellings was 2.5% compared with 11.2% for those renting at the market rate and 14.2% for those paying less than this or living rent free.
Despite the fact Irish people have more money in their pockets, the figures show some are still deprived of certain luxuries.
The most common types of hardship experienced was not being able to replace worn out furniture followed by not being able to afford an evening out in the last fortnight.
Further analysis of the figures showed those most at risk of poverty were those who were not at work due to illness or disability and people who were unemployed.
People with a third level degree or higher had the most disposable income in 2018, at €33,610.
The CSO Survey on Income And Living Conditions can be read in full here
