This is Australia. Via CBA.
Australians are freeing up more of their wallet for discretionary purchases with a focus on value and convenience, according to the latest CommBank iQ Cost of Living Insights analysis. Overall spending continues to trail inflation, up by just 1.5 per cent compared to the same time last year.
Young Australians continue to feel the pinch more than any other age group with those aged 18–29 cutting back on spending by 2 per cent over the past year, with a notable decline in both essential (-2.3 per cent) and discretionary (-1.9 per cent) spending.
In the past 12 months 30- to 39-year-olds have also recorded negative overall spending growth, with a 1.1 per cent drop in essential spending and 1.0 per cent drop in discretionary categories.
By contrast, those aged 60-69 increased spending by 3.9 per cent and over 70s by 7.7 per cent, underscoring the continued generational spending gap.
God help Victoria.
The war on youth now comprises mass immigration for a permanent per capita recession, rent shock, energy shock, unaffordable homes, crushed wages, rampaging mortgage repayments, destroyed and expensive education, ruined built environment, wrecked natural environment, and a dying planet.
But genital mobility is a go!
