According to the latest Central Statistics Office statistics, retail sales in May remained unchanged on a monthly basis, up 0.3% from the same month last year.
As the first unrestricted summer since the beginning of 2019, his numbers show no sign of a surge in consumer-led spending.
April retail sales increased 4.1% compared to March, making it the strongest monthly sales in over a year.
But as inflationary pressures rise, the post-blocking boom seems unlikely. Ireland’s inflation rate reached 8.2% in May, slightly above the EU average of 8.1%.
Retail sales in May also declined, with the first decline of the year, excluding car selling, down 0.1% on a monthly basis.
Department store sales in May were up one-fifth compared to April, while sales of electrical products and hardware, paints and glass were up 9.2% and 6.5%, respectively.
However, the furniture and lighting category recorded a 22.3% decrease compared to April last month. Sales of clothing and shoes also decreased by 21% from the previous month.
The bright spot is bar sales, a 769% surge compared to May last year when the pub was still closed. Despite the recovery, sales are more than a quarter lower than before the February 2020 pandemic.
Sales of books, newspapers and stationery also increased by 107% annually.
Soaring fuel costs are also reflected in the report. Fuel sales increased by 27.2% in the year to May, but sales fell by 0.5% due to a decline in consumers.
Online sales in May were up 1.2% to 6.1%. This was slightly higher than the number recorded in May 2021, but more than 7% lower than May 2020, when Ireland was blocked.
Last month, Irish supermarkets recorded a 9.3% increase in online spending, according to Kantar. This may be related to the desire to reduce travel to save fuel.
Despite the lack of growth in May, last month’s retail sales proved to be 7.2% higher overall than the pre-pandemic levels reported in February 2020.