Households using money saved from energy rebates, lower petrol prices, and interest rate cuts to treat themselves.
https://youtu.be/obtoCYYhE4Q?si=aLwclsdKp-L9zzA1
The CommBank Household Spending Insights (HSI) Index rose just 0.5 per cent in May. However signs are emerging that consumers are starting to loosen the purse strings for small luxuries thanks to lower costs in key spending areas like petrol and electricity bills. (ref. https://www.commbankresearch.com.au/apex/researcharticleviewv2?id=a0NDo000000wSW3 )
Despite overall spending softness in the second quarter so far, Hospitality and Recreation now rank at the top of annual spending categories when compared to May last year, as households splashed out on restaurants, food delivery, cinemas and online travel, indicating continued divergence in spending tr