Households will be asked to participate in a nationwide expenditure survey the National Statistics Office will carry out over the next year.

The statistics agency said today the collection of data for the Household Budgetary Survey will start later this month when selected households will be asked to fill in a two-week diary of expenditure.

The agency aims to reach 7,000 households over the next year so that daily expenditure patterns could be recorded.

The survey results, expected by the end of next year, will be used to update the retail price index, which is the tool that determines the statutory cost of living adjustment.

The survey was last held in 2008 and the results of the forthcoming survey are expected to shed light on new trends such as online shopping.

Households selected for the exercise will fill in a general questionnaire that will also include details of income and extraordinary expenses such as car purchases, which are unlikely to be captured in the diary.

The households will also be given a diary on which daily expenses are recorded to give statisticians a better picture of spending trends.

Households that participate in the survey will be given a compensation of €40 and all data that is collected will remain confidential.