Household spending continued to rise in February 2022
Household spending increased by 7.7 per cent in February 2022, compared with February 2021, according to figures released today by the Australian Bureau of Statistics (ABS).
Jacqui Vitas, head of Macroeconomic statistics at the ABS, said the largest rises in household spending were for clothing and footwear (20.2 per cent), recreation and culture (17.8 per cent), and hotels, cafes and restaurants (15.6 per cent).
“Household spending increased in seven of the nine spending categories in February 2022, compared to February 2021. The only categories with decreased spending over the same period were on alcoholic beverages and tobacco (-10.3 per cent) and miscellaneous goods and services (-0.8 per cent).
“Fewer COVID-19 cases in February, alongside the further easing of restrictions over the month saw increased spending in recreation, hospitality and retail venues,” Ms Vitas said.
All states and territories recorded increases in household spending in February 2022, compared with February 2021. Victoria (13.9 per cent) and Western Australia (12.1 percent) saw the strongest increases in spending through the year. The Northern Territory recorded the weakest rise (0.6 per cent), as the territory recovered from spending falls caused by COVID-19 lockouts and mandates in January 2022.
When comparing February 2022 to pre-pandemic January 2020 estimates, total household spending increased 5.6 per cent in current price, calendar adjusted terms. Health (up 25.4 per cent), food (up 13.4 per cent) and furnishings and household equipment (up 12.2 per cent) showed the strongest rises when compared to pre-pandemic levels.
The bar graph graph shows the through the year percentage changes for total household spending in current price and calendar adjusted terms. The line graph shows the index numbers for total household spending in current price and calendar adjusted terms and is indexed to January 2019.
- The indicator is produced using aggregated and de-identified card and bank transactions from several banking and financial institutions.
- The indicator includes 9 of the 13 key divisions classified according to the Classification of Individual Consumption by Purpose (COICOP).
- The indicator is produced in current price original and current price calendar adjusted terms only.
- Until the indicator is seasonally adjusted it is advised to focus on through the year (e.g. February 2022 compared to February 2021) comparisons.
- Care should be given when comparing Household Spending Indicator estimates with other ABS products.
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