Increased consumer spending and food prices are leading into the new financial year.

Retail card spending is up 1.2% from April, and even more compared to this time last year.

General food prices are also up, on the back of more expensive fresh vegetables.

But the increase is slight, at less than 1% for the month of May.

The cost of fresh fruit is down, while prices for meat, poultry and fish are rising.

Some of the largest hikes are for cheese and butter, up 7 and 11% respectively.