€8.5 billion was spent on credit and debit cards, including ATM transactions in May.
That's the highest value recorded by the Central Bank and represents an increase of 12% on April.
The increase in spending on debit and credit cards in May was predominantly driven by a monthly increase of €668 million in debit card point of sales spending.
The figures from the Central Bank show transport and accommodation sectors continue to see large year-on-year increases last month at 239% and 314% respectively.
Annual spending on clothing rose by 12% to €360 million.
Social spending increased dramatically in May compared to last year, it was up 85%, as the economy reopened with spending in restaurants, up 130% or €305 million and entertainment spending up 48% or €91 million euro.
It comes as the rate of household savings are declining.
Household deposits decreased by €212 million in May, after an increase of €1.2 billion euro in April.
Central Bank figures show while deposits over the last year went up by almost €7.4 billion, the rate it has grown has declined from the highs seen during the pandemic.
Net lending to households fell by €130 million in May, which was driven by decreases in loans for house purchases, where repayments exceeded new drawdowns.
