Household spending up 3% in January: ABS
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The news: Household spending is up 3% compared to a year ago, driven by increased spending on essential goods and services, new Australian Bureau of Statistics (ABS) figures show.
The numbers: The ABS said January's annual rise of 3% was the highest annual growth rate since September 2023. The rise was attributed to higher spending on essential goods and services, such as transport, food and health, as non-discretionary spending grew 5.6%
In contrast, discretionary spending rose just 0.2%, as households spent 1.6% less on furnishings and household equipment.
The context: Household spending rose in all states and territories compared to the same time last year. The largest rises in spending were seen in the ACT, which grew 6%, and Western Australia, up 5.6%.
All states and territories except the Northern Territory also had higher spending growth rates than the previous month of December. The ACT had the largest rise, climbing from 2.8% to 6% month on month.
The ABS noted that data for the alcoholic beverages and tobacco category had not been published for January as the category was subject to significant revisions.
The source: ABS media release
