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Australian household spending rose to 8.2%

Canberra, May 9 (IANS) The Australian Bureau of Statistics (ABS) revealed on Tuesday that the country’s household spending rose 8.2 per cent in March compared to the same period last year.

According to the latest figures released by the ABS, while non-discretionary spending increased by 13.9 per cent, the growth of discretionary goods and services slowed to 2.2 per cent, reports Xinhua news agency.

“Hotels, cafes, and restaurants” and “Transport” were the main contributors to the overall rise.

Spending on goods rose 4.8 per cent, boosted by a 12.6 per cent increase in food, while spending on services saw an 11.4 per cent rise.

“Rising prices are contributing to this growth. The March quarter Consumer Price Index showed services price inflation rose 6.1 per cent — its largest rise since 2001 — and goods price inflation rose 7.6 per cent,” said Robert Ewing, ABS head of business indicators.

All states and territories registered a jump in household spending, among which the Australian Capital Territory saw the biggest increase in household expenditure at 12.6 per cent.

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