S&P/ASX 200 Index (ASX: XJO) supermarket shares are taking off on Tuesday amid the release of the latest household spending data.
The Australian Bureau of Statistics (ABS) found household spending rose in May, lifting 7.9% higher than it was at the same time last year.
The news might have increased sentiment for ASX 200 supermarket shares. They're currently leading the S&P/ASX 200 Consumer Staples Index (ASX: XSJ). In turn, the consumer staples sector is out in front of the broader market.
Let's take a closer look at what's going on with ASX 200 supermarket shares today.
ASX 200 supermarket shares outperform
ASX 200 favourites Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL) are outperforming most of their peers on Tuesday.
The Woolworths share price is currently leading the company's home sector with a 2.2% gain. That brings the stock up to trade at $37.23 apiece.
Meanwhile, the Coles share price is coming in second best with a gain of 2.05%. It's trading at $18.69.
Their gains have helped boost the consumer staples sector into the top spot. The sector is up 1.33% at the time of writing. For comparison, the ASX 200 is up just 0.12% right now.
The latest news from the ABS may have boosted the market's interest in the supermarket giants.
Though, the Woolworths share price might be being lifted by its addition to Goldman Sachs' conviction list.
The broker likes the supermarket giant's core business, adjacent revenues, and valuation, my Fool colleague James reported earlier today.
The consumer staples sector is also being driven higher by shares in Endeavour Group Ltd (ASX: EDV) – which hit a new 52-week high today, Graincorp Ltd (ASX: GNC), and Elders Ltd (ASX: ELD).
They've gained 0.7%, 0.3% and 0.3% respectively at the time of writing.
