"This performance was a consequence of the 2.2% increase in RDB [gross disposable income] (2.4% in the previous quarter), higher than the 1.4% growth in private consumption", indicates the INE, recalling that this is a variation in nominal terms, so the evolution of private consumption is "marked by the growth in prices".

If calculated in real terms, that is, discounting the effect of inflation, "private consumption increased by 0.7% in the year ending in the 2nd quarter of 2024".

The statistics office also indicates that the nominal per capita household income reached 17.7 thousand euros in the 2nd quarter of 2024, which represents an increase of 1.9% compared to the previous quarter.

Per capita wages reached 12.5 thousand euros, 2.0% more than in the previous quarter.

The 9.7% increase in savings boosted household financing capacity, which stood at 3.4% of GDP in the 2nd quarter of 2024.