Household spending rose a modest 0.2% in September from the month before and +5.1% YOY. In volume terms the September quarter was +0.2% on a seasonally adjusted basis compared to June and 2.7% YOY. The largest increases were in food (+0.6%), recreation and culture (+1.1%) and health (+0.7%) from the month prior, suggesting consumers are spending slightly more—but cautiously. 

In the quarter to September, household spending on food rose +1.1%, slightly down from +1.2% in the previous quarter. Meanwhile, spending in hotels, cafes and restaurants dipped 0.3% for the period, down from +1.2% in the June quarter.