Madrid (EFE).- The household savings rate stood at 11.8% of their gross disposable income in the first quarter of 2023, 2.5 points more than at the end of last year, according to data published this Friday by the National Statistics Institute (INE).
According to the Quarterly Non-Financial Accounts of the Institutional Sectors, this rate -calculated once seasonal and calendar effects have been eliminated- is the highest since the last quarter of 2021.
Disposable income increased by 10.1% to 202,347 million euros at the start of the year and final consumption spending was 199,427 million, with an increase of 7.4% compared to the same quarter of the previous year, which leaves a saving of 1,869 million.