Posts tagged "cost of living crisis"

Wage costs, energy costs and insurance premiums were cited as the three biggest constraints on business success by retailers.

Fighting inflation won't be the sole focus of the upcoming federal budget, the treasurer has declared, warning the slowing national economy can't be ignored.

An inquiry found inflation, questionable pricing practices, a lack of market competition and unrestricted price setting by retailers are to blame for fuelling the increases.

December is shaping up to be a softer month for official retail sales numbers after consumers jumped on discounted goods in November and budgets were dried up by high living costs.

Every two minutes, Australians made a complaint about financial services, with reports involving monetary hardship surging as cost of living pressures loomed large.

As speculation swells over possible changes to controversial stage three tax cuts, Albanese said average-income earners would be the focus of relief measures.

Allegations of price gouging by Australian supermarkets have even led to a Senate inquiry into supermarket pricing.

Senator Watt on Monday sent a stern warning to supermarkets to "not profit off hardworking Aussies" in the lead-up to Christmas.

Spending by people aged 25 to 29 on must-haves, such as groceries and pharmaceuticals, fell 3.7% over the year to September, based on Commonwealth Bank payments data.

The ARA has found that Aussie retailers are under relentless pressure as shoppers limit their spending due to cost of living pressures.

Fresh data showing inflation growth over the September quarter comes as no surprise to small businesses across Australia, which are torn between raising prices and laying off staff, or offering special deals to customers also struggling to keep up with the cost of living.

In terms of sales growth, Australia was the best-performing country compared to other XSBI countries New Zealand, the United Kingdom, the USA and Canada.