This is the highest value since the fourth quarter of 2021 when the household savings rate reached 10.9%.

According to IBGE's “Quarterly National Accounts by Institutional Sector”, "this performance was a consequence of the 2.3% increase in the RDB [gross disposable income] (2.4% in the previous quarter), higher than the 1.6% growth of private consumption".

The statistics office emphasizes that these numbers are in nominal terms, so that, in the case of private consumption, its evolution is also influenced by price growth. Thus, in real terms, private consumption increased by 1.0% in the year ending in the 3rd quarter of 2024.

The nominal 'per capita' RDB of families reached € 18.0 thousand in the 3rd quarter of 2024, an increase of 2% compared to the previous quarter, while 'per capita' wages reached € 12.8 thousand, an increase of 1.9% than in the previous quarter.

The adjusted 'per capita' RDB, which includes the value of goods and services purchased or produced by the Government and intended for family consumption, increased by 1.3% in the 3rd quarter of 2024, after growth of 1.2% in the previous quarter.

Real final consumption ‘per capita’ increased by 0.8% in the 3rd quarter of 2024 (0.5% in the previous quarter), highlights INE.