Dublin Retail Spending Rises Despite Inflationary Price Hikes – Mastercard Spending Report

According to the latest MasterCard spending report, retail spending in Dublin has increased for the eighth consecutive quarter, up by 1.6% in Q1 2023, compared to the previous quarter. This has been attributed to the rising cost of necessities such as food, which increased by 3%, and grocery inflation reaching a record high of 16.8% in Ireland. However, spending on household goods fell behind in comparison. Online spending also increased by 3.9%, while entertainment spending rose as well, with spending on hospitality increasing by 2% and hotel, bar and restaurant spending up 21.1%. Visitors from China showed the fastest rate of growth, up 18.2%, while American visitors spent less in Dublin but experienced a 10% national increase in spend. Higher inflation may be affecting consumer habits, but Dublin shoppers are still spending despite challenges.