Petrol pushes card spending higher

CLAIRE ROGERS
Last updated 11:28 11/09/2012
petrol
DAVE MOORE/Fairfax NZ
FUELLING UP: Card spending on fuel rose last month when the price of 91-octane fuel hit just under $2.23 a litre, just over the previous record.

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Record petrol prices pushed eftpos and credit card spending up a sizeable 3 per cent last month, Statistics New Zealand says.

Card spending on fuel was up by 10.8 per cent or $67 million last month when the price of 91-octane fuel hit just under $2.23 a litre, just over the previous record of May last year.

Statistics acting industry and labour statistics manager Tehseen Islam said that was the biggest monthly increase in fuel spending since October 2002 when the data series began.

Spending on cards in the core retail sectors excluding fuel and vehicle sales was up a seasonally adjusted 1 per cent last month, with the biggest increases in hospitality - up 2 per cent to $13m - and consumables, up 0.8 per cent or $12m.

The total value of electronic card spending rose 2.4 per cent to $5.62 billion. The strong result undid a 0.8 per cent fall in total card spending in July.

Fuel notched up the biggest increase of all categories in July - up 0.4 per cent or $3m.

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- BusinessDay.com.au

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