Fuel spending up as petrol prices rise
12 November 2018
Spending on fuel rose in October as petrol prices reached record levels, but less was spent on clothes and shoes, Stats NZ said today.
Overall, electronic card spending in retail industries was almost flat (up 0.1 percent) in October 2018, when adjusted for seasonal effects.
“A quiet October for retail card spending followed rises of more than 1 percent in both September and August,” retail statistics manager Sue Chapman said.
“Most retail industries showed softer results in October, except the fuel industry. Petrol prices at the pump reached a record high in October, then started falling towards the end of the month,” Ms Chapman said.
Spending rose in four of the six retail industries in October 2018. The largest rise was the fuel industry, up $9.1 million (1.4 percent). The largest fall was the apparel industry, which includes clothing and footwear retailing, down $3.7 million (1.2 percent).
Core retail spending (which excludes the vehicle-related industries) was flat in October 2018, after a 1.1 percent rise in September 2018. Actual retail spending using electronic cards was $5.5 billion in October 2018, up $324 million (6.2 percent) from October 2017.
Values are only available at the national level and are not adjusted for price changes.
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