Andrew Callagher

But if you throw inflation into the mix and you say, well, June quarter, we're going to get sort of inflation around sort of 4%, it looks like it's only increasing very modestly.

But monthly and annual growth was positive for nearly every category in May.

Also, the monthly numbers were all higher than we saw in April.

A key takeaway, though, is that for me, is that if I sort of look ahead, if petrol prices were to adjust back down meaningfully, we could recover consumer confidence quite quickly, I think.

And just to cover a few little of these interesting snippets, movies, Heather, movies.

We're back.

We're loving the movies.

Spending is – well, I never stop loving the movies because I love going to the movies.

But spending is up 28% year on year there.

Fuel spending, 15% up year on year, but it eased in May.

That's why we got the kickback in the other areas.

And finally, bike shops.

Bike shops have been doing it pretty hard, but expensive fuel has got people thinking about pedal power, and we're seeing bike shops spending lifting.

So get out there.

Get on your bike.

Good for you.

Okay, give us the numbers.

Sure can.

A little weird one this morning.

We've got the actual NASDAQ is under a bit of pressure, but the Dow Jones looking very strong.