Consumers yet to cool their jets

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

More Economy

‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

August rate cut still on the cards
Economy

August rate cut still on the cards

Annual inflation increased 2.7% in the 12 months to the June quarter. 

Rebecca Howard 21 Jul 2025
Annual inflation up 2.7% in June year
Economy

Annual inflation up 2.7% in June year

Annual inflation slightly lower than economists expected. 

Rebecca Howard 21 Jul 2025
June inflation forecasts approach 3%
Economy

June inflation forecasts approach 3%

Inflation may test the upper limit of the RBNZ's target range. 

Andy Macdonald 21 Jul 2025