Consumers yet to cool their jets

Consumers are continuing to open their wallets, despite rising prices and interest rates. (Image: Unsplash)

Wed, 12 Apr 2023

Retail spending on electronic cards increased by 0.7% in March, compared with February, on a seasonally adjusted basis.Monthly card spending totals are adjusted for seasonality, but not for inflation. The most recent inflation data from the December quarter was 7.2% annually or 0.6% per month.When spending in the non-retail (excluding services) category, which was up by 11.3%, is included there was a 3.1% increase in total card spending.The non-retail category includes travel and tour arrangement, which has seen a big boost since the re-opening...

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