The average disposable income increased by 3.5% last year to €18,210.

That is up from €17,551 in 2013, according to the latest figures from the Central Statistics Office (CSO).

However, the CSO is reporting an increasing dependence on social welfare in the past 10 years.

If all social transfers were excluded from income, the at risk of poverty rate would have been 49% - compared to 40% in 2004.

The at risk of poverty rate increased slightly - 16.3% compared with 15.2% in 2013.

But the CSO says the rise is not statistically significant for the sample of people surveyed.

The organisation adds that enforced deprivation was experienced by 29% of the population in 2014, down from 30.5% in 2013.

While the consistent poverty rate was 8% - again, the CSO says, it's not a statistically significant change on the 2013 figure of 8.2%.

Dr Micheal Collins form the Nevin Institute says while the figures show incomes are rising, we are still below 2004 levels.

He says today's statistics indicate are in recovery - but we are still behind where we were in the past.