September’s stats from RBC reveal that Canadians bought more groceries than a year earlier, a rise in average daily transactions of around 4% year-over-year following a 2.5% rise in the previous month.
Restaurant spending was up around 7% year-over-year, maintaining the level since April.
Travel spending was down as summer drew to a close and nominal spending on gas fell (-6.7% in September) alongside gas prices (down 8%).
Housing market impact
Data for earlier in September shows the impact of the cooling housing market on related industries.
Home-related spending peaked in February 2022 with a further rise in May but has been trending lower since.
