Retail card spending fell $11 million (0.2 percent) between June 2022 and July 2022, when adjusted for seasonal effects, Stats NZ said today.
The largest increase was consumables (groceries and liquor), up $52 million (2.2 percent), which was partially offset by the decrease in fuel, down $39 million (6.1 percent).
“Lower fuel spending contributed to the fall in retail card spending,” business performance manager Ricky Ho said.
“Fuel prices started to decrease during the second half of July.”
|Motor vehicles excl. fuel||-838000|
|Non-retail excl. services||-9406000|
In actual terms, total retail spending using electronic cards reached $6.2 billion, down $31 million (0.5 percent) from July 2021.
The electronic card transactions series covers all debit, credit, and charge card transactions with New Zealand-based merchants. It can be used to indicate changes in consumer spending and economic activity.
Values are only available at the national level and are not adjusted to price changes.