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New survey shows Australians cutting back

A new national consumer survey has found almost half of Australians have cut back on essential spending in the face of rising bills.

August 11, 2014 9:44am

CHOICE has released its first national Consumer Pulse Report, revealing an anxious picture of Australia’s households.

The national consumer survey found that in the face of rising bills over the last year, 46 per cent of Australians reported cutting back on essential spending and 62 per cent on non-essentials.
 
More than half of those surveyed put clothing and entertainment (both 57 per cent) at the top of the list of household cuts.
 
“Almost one-in-three respondents told us they find it difficult to get by on their current income, with one-in-five saying they have scraped through to payday by living off credit or borrowing from friends or family,” CHOICE chief executive Alan Kirkland said.
 
“This reveals some striking concerns with cost-of-living, which is perhaps not surprising at a time when inflation is outstripping sluggish wages growth, retail sales are fragile and the political debate remains focused on household expenses,” Mr Kirkland said.
 
The CHOICE Consumer Pulse Report shows the squeeze is hardest on low-income households, renters and parents with school-aged children.
 
Electricity tops the list of household expense concerns at 84 per cent, with fuel (81 per cent) and food and groceries (77 per cent) close behind.
 
The survey was undertaken just before the repeal of the carbon tax, and the high concern over electricity is consistent with national trends over the last three years.
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