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huge surge Irish public spending more now than pre-Covid pandemic

The biggest rise was on airfares, which was up 65pc in August compared with the same month in pre-pandemic 2019.

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Stock image. Photo: Ivan Kruk

Stock image. Photo: Ivan Kruk

Stock image. Photo: Ivan Kruk

Spending by consumers has now surpassed pre-pandemic levels.

It was up 10pc last month compared with the same month in 2019.

There has been a huge surge in spending on airline tickets, according to the August Revolut expenditure report.

Spending was also higher across a range of categories including sportswear, clothing, groceries, fast food, hardware, gardening and home furnishing, according to data from Revolut's 1.5 million Irish customers.

The biggest rise was on airfares, which was up 65pc in August compared with the same month in pre-pandemic 2019.

Combined with recent airline data, this suggests a spike in Irish consumers booking holidays now for the year ahead.

Across digital goods categories, such as apps, the increases in spending ranged between 125pc and 439pc.

Revolut said the figures suggest that the hoped-for post-vaccination boom in Irish consumer spending is already well under way.

The Central Bank has suggested that Irish consumers will spend about half of the surplus €15bn saved during the pandemic.

And retailers have been hoping they would start seeing the fruits of this spending surge as restrictions eased over the summer.

There has also been a huge rise in spending on digital media, such as books, music, movies and media, and on games.

Traditional retailers are also benefiting from the unleashing of pent-up pandemic savings.

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Spending at garden centres was up 62pc compared with two years ago.

There were also higher expenditure levels recorded at hardware stores, home-furnishing shops, and at florists.

August also saw higher spending on clothing than August 2019.

Sales of sportswear have exploded since Covid-19 arrived. Spending in that category is up 66pc compared with two years ago.

Supermarket spending has also soared since the pandemic struck.

Spending on groceries was 32pc higher than it was in August 2019.

With very little change in the overall numbers of people spending in supermarkets, this shows that Irish people are now consistently spending more at the supermarket than they used to.

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