Consumers are ditching lockdown-era habits such as food delivery services in favour of going into stores and hunting for deals.
Young couple Jess Brooker and Rhiannon Earl were just managing a biting rent increase and red-hot inflation when disaster struck on the ice.
Dinners gleaned from the clearance shelves of Woolworths are eaten on the couch; they’ve put off buying dining chairs for their apartment. NAB chief executive Ross McEwan said consumers were ditching lockdown-era habits such as food delivery services in favour of going into stores and hunting for deals. About 40 per cent of the bank’s customers had teed up a budget in reaction to rising food, electricity and petrol prices.
The latest retail figures from the ABS showed turnover growth has started to plateau. Retail spending has jumped by 7.2 per cent since December 2021, but June brought a meek 0.2 per cent growth. The years leading up to the pandemic were dubbed the “lost decade” of income growth for under-35s after income dipped 0.6 per cent for those aged between 25 and 24, and 1.6 per cent for those aged 15 to 24.
Cameron D’Abico has ditched trips to the hairdresser and picked up the clippers himself to save money. The automotive electrician now cuts his own hair, and that of his eight-year-old son, Caden, at home.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Young Aussie the alleged mastermind behind spyware used by domestic violence thugsA 24-year-old Australian man has been identified as the alleged mastermind behind intrusive spyware used by domestic violence perpetrators and other criminals. 7NEWS
Read more »
Swans young gun embroiled in leaked images dramaImages and videos have hit social media and rattled the Sydney club. 9WWOS AFL
Read more »
Young girl rushed to hospital after being mauled by dogs in Melbourne’s southeastA young girl has been rushed to hospital after she was attacked by two dogs in Melbourne.
Read more »
‘How do you grow an economy without young people?’: What falling birth rates mean“We are approaching an era of acute labour shortages in much of the world – and robots are not yet ready to come to our assistance,' says demographer Paul Morland. | GregCallaghan1
Read more »
‘How do you grow an economy without young people?’: What falling birth rates meanAs birth rates collapse across large swathes of the world and the global population ages, the geopolitical map is set to be redrawn – with big consequences.
Read more »
Super shake-up as soaring inflation and rate rises biteTop fund managers reveal how they are navigating some of the toughest markets in nearly 30 years.
Read more »