Economic data and research

Economic snapshot reports

• January to March 2026

  Key insights include:

  • Most hospitality sectors in Port Phillip experienced year-on-year growth for monthly spend for some or all of 2025, except for cafes. For all of 2025, cafes experienced a decline in monthly spend when compared to the same month in 2024. We then saw a year-on-year increase for cafés in January and February 2026.
  • Compared to March 2025, we now see a reversal of this year’s growth across the hospitality sector – restaurants, pubs, taverns, bars, cafes. One exception is the takeaway/fast-food sector which grew 7.7%, in line with metropolitan Melbourne, up 4.5%. This trend suggests that due to the current economic climate of elevated fuel prices and other living costs, some consumers are moving their dining purchases to cheaper and better value options.
  • The night-time economy as a percentage of total day and night spend for Port Phillip in March 2026 was 27.45% (up from 26.7% in December 2025). The highest ranked precinct in March was Fitzroy Street (59.15%), followed by St Kilda Foreshore (50%), Acland Street (36.26%), Clarendon Street (27.99%), St Kilda Road (25.62%), Armstrong Street (25.21%), Carlisle Street (23.46%), Dundas-Bridport (22.84%), Bay Street (22.70%) and Ormond Road (22.23%)
  • Peak summer season for events saw a return of music and cultural events such as the Ocean Alley music concert (Catani Gardens, St Kilda), St Kilda Latin Festival (South Beach Reserve, St Kilda), the Palace Foreshore music concert series (St Kilda Triangle Car Park), Sunset Cinema (St Kilda Botanical Gardens) and St Kilda Blues Festival (Acland Plaza, O’Donnell Gardens and local venues). Other events this quarter included the South Melbourne Porsche & Coffee festival (South Melbourne), Midusmma Pride March (St Kilda), 2XU triathlons (Catani Gardens, St Kilda) and Carlisle Street Shop & Taste promotion (Balaclava). Events this quarter have generated an estimated economic impact of $21,818,315.
  • The Consumer Price Index rose 4.6% in the 12 months to March 2026, up from 3.7% in the 12 months to February. The largest contributor to annual inflation in March was housing, the highest weighted group in the Index, with a rise of 6.5%. This was followed by an 8.9% rise in transport, and food and non-alcoholic beverages, up 3.1%. Annual CPI inflation is the highest it has been since September 2023. (ABS Media Release, 29 April 2026) 
  • The March 2026 Victorian unemployment rate of 4.8% was the highest of any state or territory. The rate was 4.7% in February and 4.2% in January. The March national rate was 4.3%. (ABS, seasonally adjusted)
  • Job vacancies rose in seven of the eight states and territories over the quarter to February 2026. Victoria had the fourth largest increase of 3.9%, behind Northern Territory (23%), Tasmania (5.9%) and Western Australia (4.3%). Nationally, job vacancies increased 2.7%. (ABS, seasonally adjusted)
  • Compared to the previous month, household spending in Victoria rose 0.4% in February 2026, 0.5% in January and fell 0.9% in December 2025.  Australian household spending saw rises of 0.3% in February, 0.3% in January and a fall of 0.5% in December. (ABS, current price, seasonally adjusted)

  Full report: Precinct Health Report January to March 2026

• October to December 2025

  Key insights include:

  • The previously reported decline in café spend and the number of customers (attributed to the rise of hybrid work and high living costs) continued for the 12 months to December 2025, which saw café expenditure down 7.1% year on year. This decline slowed in quarter 2, 2025 compared to the same quarter 2024 – December 2025: -0.2%, November: -2.4%, October: -2.7%.
  • The night-time economy as a percentage of total day and night spend for Port Phillip in December 2025 was 26.7% (up from 24.7% in September 2025). The highest ranked precinct in December was Fitzroy Street (61.4%), followed by St Kilda Foreshore (49.4%), Acland Street (36.1%), Clarendon Street (24.7%), Glen Eira Road (23.8%), Carlisle Street and Ormond Road, (22.3%) and Bay Street (22.1%).
  • The on-road events season kicked off in the second quarter of the year with Melbourne Marathon, Around the Bay, Ironman 70.3, 2XU Triathlon Race 1 and Wellness Run. Melbourne Marathon and Wellness Run both saw a record number of participants and drew large crowds to the municipality. In addition, this quarter saw some small and larger scale cultural events such as Cars & Culture (St Kilda Triangle Car Park), Oktoberfest in the Gardens (Catani Gardens, St Kilda), Carols at Gasworks (Gasworks Arts Park, Albert Park) and Melbourne Shakespeare Company Plays in the Park series (St Kilda Botanical Gardens). These events generated an economic impact of $7,289,866.
  • The Consumer Price Index rose 3.8% in the 12 months to December 2025, up from 3.4% to November. The largest contributor to annual inflation in December was Housing, up 5.5%. This was followed by Food and non-alcoholic beverages, up 3.4%, and Recreation and culture, which rose 4.4%. (ABS, 28 January 2026)
  • The December Victorian unemployment rate of 4.6% (down from 4.7% in September), was the highest of any state or territory. The national rate was 4.1%. (ABS, seasonally adjusted)
  • Job vacancies rose in three of the eight states and territories over the quarter to November 2025. Victoria had the biggest increase of 7%, followed by Western Australia (up 6.5%) and ACT (up 3.7%). Nationally, job vacancies fell 0.2%. (ABS, seasonally adjusted)
  • Household spending saw Victoria record a 0.1% decline in September 2025, a 1.3% rise in October, and a 1% rise in November. Australian household spending saw rises of 0.4% in September, 1.4% in October and 1% in November. (ABS, current price, seasonally adjusted)

  Full report: Precinct Health Report October to December 2025

• July to September 2025

  Key insights include:

  • Visa has released its Australia Night-time Economy Index 2025 which ranks 88 metro, regional and suburban areas on vibrancy, safety, accessibility and policy support. Melbourne-Inner is Australia’s #1 night-time hotspot, earning the highest Vibe Score (82.0), covering key precincts including the CBD’s laneway bars and late-night dining, Brunswick’s multicultural Sydney Road, Fitzroy’s eclectic pubs, Chapel Street’s nightlife strip, and St Kilda’s live music scene.
  • The night-time economy as a percentage of total day/night spend for Port Phillip in September 2025 was 24.5%. The highest ranked precinct was Fitzroy Street (57.3%), followed by Acland Street (31.7%), Clarendon Street (26%), Carlisle Street (22.3%) and Bay Street (20.4%).
  • This quarter, Port Phillip hosted several events during the winter season, the largest included Father’s Day Car and Bike Show (St Kilda), Sri Krishna Janmashtami celebration (Albert Park), Connor’s Run (St Kilda) and Cars and Culture (St Kilda). Collectively (excluding Sri Krishna Janmashtami), these events generated an economic impact of $3,182,085.
  • The trimmed mean annual inflation was 3% to the September quarter, up from 2.7% to the June quarter. This is the first time trimmed mean annual inflation has increased since December 2022. (ABS)
  • The Victorian unemployment rate was 4.7% in September, the highest of any state or territory. The national rate was 4.5%. (ABS, seasonally adjusted)
  • Job vacancies rose in five of the eight states and territories over the quarter to August 2025. Victoria had the biggest fall of -8.8%. Nationally, job vacancies fell 2.7%. (ABS, seasonally adjusted)
  • Household spending saw Victoria record a 0.5% rise in July 2025, a 0.3% rise in August, and a 0.3% decline in September. Australian household spending rose 0.4% in July, was flat in August and rose 0.2% in September. (ABS, current price, seasonally adjusted)

  Full report: Precinct Health Report July to September 2025

• April to June 2025

  Key insights include:

  • The Victorian Tourism Industry Council’s Quarterly Tourism Business Activity and Impact Survey Report June 2025 tells a mixed story for tourism businesses. A decrease in visitors and a softer economy were largely attributed as the reasons for the 38.1% of respondents who reported weaker business activity. Conversely, 34% experienced stronger results, with more than half reporting the improvement due to increasing their digital presence.
  • Most tourism, hospitality and entertainment businesses in Port Phillip continue to perform well, despite the challenges of rising business and staffing costs. For the quarter to June 2025, the monthly average visitor spend to these businesses was $28.79M, a monthly average increase of 7.3% compared to 2024. Spend by visitors accounted for an average of 68.6% of total spend in this category, compared to 31.4% by Port Phillip residents.
  • This quarter, Port Phillip hosted several events during the autumn season, including Citroen Annual Car Show 2025 (St Kilda), Cars and Culture (St Kilda), Circus Rio (Port Melbourne), Dawnbreak Sober Sunrise Silent Disco (Elwood) and The Bloody Long Walk 2025 (St Kilda). Collectively, these events generated an economic impact of $326, 998.
  • The Skyline Ferris Wheel was in Catani Gardens from 9 December 2024 until 17 February 2025 and in South Beach Reserve from 21 February to 18 May 2025, a total of 158 operational days. The total number of patrons for 2024/25 was 39,283, a 15% increase compared to 2023/24.
  • The trimmed mean annual inflation was 2.7% to the June quarter, down from 2.9% to the December quarter. This is the lowest annual trimmed mean inflation rate since the December 2021 quarter. (ABS)
  • The Victorian unemployment rate was 4.6% in March, the highest of any state or territory. The national rate was 4.3%. (ABS, seasonally adjusted)
  • Monthly retail turnover saw Victoria record a 1.2% rise in June 2025, a 0.6% rise in May, and a 0.3% decline in April. Australian retail turnover rose 1.2% in June, 0.5% in May and no change in April. (ABS, seasonally adjusted)

  Full report: Economy snapshot for April to June 2025

• January to March 2025

  Key insights include:

  • Most hospitality sectors in Port Phillip are continuing to trade well despite a challenging environment and low consumer confidence. For the months January to March 2025, compared to 2024, spend per customer and customer count have increased for restaurants. Spend per customer is down for pubs, taverns and bars, but this is offset by an increase in customers, resulting in an overall increase in spend. Both customer count and spend per customer have decreased for cafes.
  • The decline in café spend and number of customers can be attributed to the rise of hybrid work and high living costs. More employees are working at least some of their time from home, have cut back on the takeaway coffee and take their own lunch when they do go to the office. Transactions data from digital payments platform Square shows the number of purchases at food and drink businesses between 7am and 11am on weekdays has dropped to below pre-pandemic levels. It appears that consumers are cutting back on nonessential purchases, but still spending on things that are important to them, like dining with friends and family.
  • This quarter, Port Phillip hosted several events during the peak summer season, including St Kilda Blues Fest, Pride March, and other major events. Collectively (excluding St Kilda Festival), these events generated an economic impact of $48,814,300. Compared to the previous summer events season, this represents an increase of 110%.
  • The trimmed mean annual inflation was 2.9% in the March quarter, down from 3.3% in the December quarter. This is the lowest annual trimmed mean inflation rate since the December 2021 quarter. (ABS)
  • The Victorian unemployment rate was 4.4% in March, the highest of any state or territory. The national rate was 4.1%. (ABS, seasonally adjusted)
  • Monthly retail turnover saw Victoria record a 0.6% rise in March 2025, no change for February, and a 0.8% rise in January. Australian retail turnover rose 0.3% in March, 0.2% in February and 0.4% in January. (ABS, seasonally adjusted)

  Full report: Economy snapshot for January to March 2025

• October to December 2024

  Key insights include:

  • The annual trimmed mean inflation was 3.2 percent in the December quarter, the lowest in three years, down from 3.6 percent in the September quarter (ABS).
  • The unemployment rate (Victoria) was 4.4 percent in December, the highest of any state or territory. The national rate was 4 percent (ABS, seasonally adjusted).
  • Job vacancies (Victoria) decreased by 2.2 percent in the three months to November 2024, following a 5.3 percent fall over the quarter to May 2024. Western Australia was the only other state or territory to record a fall (-0.1%) (ABS).
  • Retail turnover rose in all states and territories. Victoria recorded a 0.7 percent rise in retail turnover in October and 0.8 percent in November. Australian retail turnover rose 0.5 percent in October and 0.8 percent in November (ABS, seasonally adjusted)
  • "Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries” (Robert Ewing, ABS, November 2024).
  • Household spending in November rose in all states and territories expect for Tasmania and the ACT. The strongest increases were in Queensland (+0.7 percent) and Victoria, South Australia and Western Australia (+0.5 percent) (ABS, seasonally adjusted).

  Full report: Economy snapshot for October to December 2024