Three major trends emerged in the latest figures released yesterday.
One of the significant trends was a generally falling average transaction value, consistent with a low general inflation rate, spokesman Paul Brislen said.
The average transaction size in January of $47.36 was 2.2% lower than 12 months earlier. Some of the lower value reflected increasing use of cards for smaller payments.
``But the fact the rate of decline has increased in recent months is suggestive of low inflation pressure extending into 2018.''
The average transaction value fell by 0.3% in the first half of 2017 and by 1.7% in the second half, he said.
A notable exception to the trend was the average transaction size at fuel stations, increasing 0.9% between January 2017 and January 2018 to $46.92.
Overall, the increase in spending from last year continued into January, although at a slower pace. Auckland remained one of the slower-growing regions in terms of spending.
Spending nationally through Paymark totalled $5.01million in January.
The underlying annual spending growth rate of 5.3% was slightly below the average 5.4% in 2017.
Mr Brislen said the figures provided insights into how trends evident last year were shaping up this year.
Spending in Auckland-Northland was still growing but at a slower rate than in early 2017 and slower than in other regions. The 3.9% growth rate between January 2017 and January 2018 was similar to the 3.6% growth rates averaged in the second half of last year and below the 5.2% first-half 2017 average, he said.
Spending growth in the rest of New Zealand went from 6% in the first half of last year to 6.2% in the second half. It maintained 6.2% growth in January.
Smaller regions were leading the way. For January, the highest annual underlying growth rates were recorded by merchants in Marlborough (16.4%), Southland (13.8%), Whanganui (11.5%), West Coast (11.2%) and Wairarapa (11%).
Otago grew at 5.6% and recorded $317.9million from 6.9million transactions.
