Victoria’s economic growth has ground to a five-year-low as stagnant wages and plunging property prices force consumers to put away their credit cards.

Only energy companies had reason to smile in the March quarter, with soaring bills for electricity, gas and other fuels the only things keeping the Victoria’s "household consumption" index in positive territory.

The state’s households are staying away from cafes and restaurants, taking it easy on the takeaway orders and cutting back on household goods, Victoria’s Treasury has warned, putting the brakes on the overall economy.

Foodies stay home: Discretionary spending on dining out or takeaways is down in Victoria. Credit:Tamara Voninski

Budget-conscious local consumers reduced their spending on restaurant meals by about $12 million in April (forking out $578.6 million, down from $590.8 million in March).