Household spending is 3.0 per cent higher than a year ago, according to figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, said: "January's annual rise of 3.0 per cent was the highest annual growth rate since September 2023.
"The rise was driven by spending on essential goods and services, with non-discretionary spending growing 5.6 per cent. Compared to January 2023, households are spending more on transport, food and health.
"In contrast, discretionary spending rose just 0.2 per cent, as spending on furnishings and household equipment fell 1.6 per cent."
| Aug-23 (%) | Sep-23 (%) | Oct-23 (%) | Nov-23 (%) | Dec-23 (%) | Jan-24 (%) | |
|---|---|---|---|---|---|---|
| Discretionary | 0.1 | -0.7 | -2.4 | -0.3 | -1.8 | 0.2 |
| Non Discretionary | 9.7 | 8.5 | 6.6 | 5.1 | 4.2 | 5.6 |
| Total | 5.2 | 4.1 | 2.3 | 2.4 | 1.1 | 3.0 |
Compared to the same time last year, household spending rose in all states and territories.
The largest rises in spending were seen in the Australian Capital Territory, up 6.0 per cent, and Western Australia, up 5.6 per cent.
All states and territories except the Northern Territory had higher spending growth rates than in December. The Australian Capital Territory had the largest rise, up from 2.8 per cent in December to 6.0 per cent in January.
| Nov-2023 (%) | Dec-2023 (%) | Jan-2024 (%) | |
|---|---|---|---|
| NSW | 1.2 | 0.0 | 1.3 |
| Vic. | 2.8 | 0.7 | 2.8 |
| Qld | 2.0 | 1.6 | 4.3 |
| SA | 4.9 | 2.2 | 4.0 |
| WA | 4.0 | 3.3 | 5.6 |
| Tas. | 1.6 | 2.1 | 2.5 |
| NT | 4.0 | 4.6 | 3.7 |
| ACT | 4.3 | 2.8 | 6.0 |
