Shoppers are on the hunt for bargains but continue to tighten the belt at cafes and restaurants, new spending data shows. / (min cost $ 0 ) or signup to continue reading Commonwealth Bank's monthly index on household spending was unchanged in July with consumers finding ways to get thrifty at the checkout. While spending in seven of the bank's 12 categories rose in July, it was offset by reduced spending in other areas.
Hospitality took the biggest hit, with spending in the category down 2.6 per cent for the month, however this was on the back of a 3.5 per cent rise in June.
Consumers spent on fast food outlets and food delivery services, but cut back at cafes, pubs, wineries and takeaway food, the index found. Spending on utilities was down 1.3 per cent in July, even before the government's electricity rebate scheme had come into effect.
Commonwealth Bank said the impact of the was likely to be seen in the months ahead. There were modest increases in some areas of spending, led by consumers who were prioritising discounts. Spending on household goods saw the biggest increase of the categories, up 1.
3 per cent for the month. Consumers were spending big at online marketplaces, discount department stores and beauty stores but were reducing their spend at furniture stores and luxury boutiques. CBA chief economist Stephen Halmarick said shoppers were getting thrifty in July.
"We're also seeing changes in shopping behaviours within categories, as consumers look for cheaper alterna.