"Credit card balances are growing at the slowest annual pace in 16 months. The average credit card balance in January was up just 0.8 per cent on a year ago. The average balance fell by $100.90 to $3,214.00. Consumers are preferring to use their own money to purchase goods. Purchases made on debit cards rose by 25.8 per cent on a year ago – the fastest growth on record. Petrol prices are likely to track higher in coming weeks. The national average wholesale (terminal gate) stands at a near 29-month high of 134.8 cents a litre today, up a further 2.2 cents a litre over the past week."
