Australian households spent an average of 11.2 per cent more in December 2022 than in the same month the previous year, new data has revealed.
The Australian Bureau of Statistics released the figures on Tuesday which showed a mammoth 22.7 per cent hike on services since December 2021.
This rise was largely due to increased spending on transport, recreational, and catering services, according to the ABS.
However, households’ spending on goods rose a relatively minor 2.7 per cent, driven by increases in food, other goods, and alcoholic beverages and tobacco.
Spending on transport increased by 31…
