CSO figures reveal the average disposable income for individuals in Ireland 2 years ago

CSO figures reveal the average disposable income for individuals in Ireland

How does your own wallet compare?

New figures from the Central Statistics Office (CSO) have revealed the average yearly disposable income for individuals in Ireland.

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It found the average yearly disposable income figure for Irish individuals was €26,766 in 2018, a 7.1% increase on the previous year's figure of €24,983.

This results in an average weekly disposable income figure of €514.73 in Ireland.

The findings show an 8.5% increase in the median annual household disposable income to €42,865, up from the 2017 value of €39,499.

The mean household disposable income rose 6.2% from €48,476 in 2017 to €51,458 in 2018.

The CSO arrived at the disposable income figures by adding social transfers to primary income and subtracting income taxes and social insurance contributions.

The survey also shows a drop in the "at risk of poverty" rate, which is defined as "the share of persons whose equivalised income was less than 60% of the national median equivalised income".

The 2018 figure for those who are at risk of poverty stands at 14%, reduced from 15.7% in 2017.

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The Survey on Income and Living Conditions (SILC) in Ireland is a household survey covering a broad range of issues in relation to income and living conditions.

It is the official source of data on household and individual income and provides a number of key national poverty indicators, such as the at risk of poverty rate, the consistent poverty rate and rates of enforced deprivation.

This news comes on the same day that a separate survey found that over 30% of Irish adults are "struggling" or "stretched" financially.