Kiwis forced to cut back on retail spending as fuel prices continue to bite
Retail spending's been continuing to fall alongside rising fuel prices.
Latest Stats NZ data shows spending in core retail industries last month was down 1.2% on the month before.
Spending on durables like hardware and furniture fell 2.1%, spending on vehicles slid 2%, and cafes, bars, and restaurants had 1.6% less money going through the till.
Kiwis were instead spending that on filling the tank, with fuel spending up 4.8% month on month.
Infometrics' Principal Economist Nick Brunsdon told Mike Hosking households are spending more on what they have to, and less on what they can get on without.
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