Retail spending is continuing to take a hit, as fuel and food prices continue to rise
Retail spending is continuing to take a hit, as fuel and food prices continue to rise
10 August 2022
New figures from Stats NZ show spending on groceries and liquor increased 52-million dollars last month.
However, overall retail card spending dropped by 11-million dollars.
Retail NZ chief executive Greg Harford says households are responding to mounting economic uncertainty.
He says things like the depressed housing market is making consumers feel less wealthy than a year ago, and that's flowing through into retail spending.
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