Investor Presentaiton
Index, 2019 average = 100
Nominal Spending up: real spending flat
Inflation is now clearly eating into real consumption
Card spending data* show a strong start in 2022 compared to
average spending in 2019 (nominal data)
140
130
120
110
100
90
80
70
60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
- 2020
2021
2022
Index, Q4 2019 = 100
High-inflation environment hitting real consumption as
divergence between real and nominal spending widens
115
110
105
100
95
90
85
80
Q4 Q1
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2020
2021
2022
2019
- Real Personal Consumption
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
Source: Central Bank of Ireland
* CBI spending data is nominal data and not seasonally adjusted
-
- Nominal Personal Consumption
Source: CSO
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