Posts tagged "cost of living in Australia"

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.

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.

The Reserve Bank of Australia has been warning about slow productivity growth in the context of returning inflation to target in a timely matter.

Research shows spending on food will account for the largest share of spending in the Christmas lead-up, accounting for $26.7 billion.

A 0.2% lift in retail sales was recorded by the ABS in August following a stronger 0.5% uptick in July and a 0.8% fall in June.

Australians are still trying to enjoy the small luxuries in life, with 15 million Aussies forking out and digging deep into their pockets for small indulgences.

Small and medium-sized businesses have observed a slowdown in profitability, employment and trading conditions.