According to the CBA HSI, Australian household spending rose strongly in March, increasing 2.9% after a February dip, largely driven by a sharp rise in fuel costs linked to Middle East tensions.
Transport spending jumped 22.9%, accounting for over half the monthly increase, while overall spending still grew 1.0% excluding transport, with gains across all categories.
Recreation and hospitality also rose modestly, supported by major events, while utilities and insurance spending increased due to policy and pricing changes.
