Source : Perth Now news
Surging fuel prices and three interest rate hikes this year haven’t slowed down household spending.
Fresh Australian Bureau of Statistics figures show household spending rose 0.8 per cent in June.
Household spending is now up 6 per cent for the 2026 financial year following a bumpy few months.
In May, household spending rose sharply by 1.3 per cent, but this was after a 1.1 per cent fall in April.
June’s figures are a snapshot of how households are holding up despite the RBA lifting the cash rate by 75 basis points and fluctuating fuel prices due to the US- Iran conflict.
Prior to Tuesday’s figures, markets were expecting consumer spending to hold, up between 0.1 or 0.2 per cent for the month.
More to come
