Australians have revealed the everyday foods and household products they no longer buy.
The cost of living crisis has gripped the nation despite the Reserve Bank’s attempt to curb the crisis inflation by raising interest rates on Tuesday for the 12th time in just 13 months.
At 6.8 percent, inflation is forcing Aussies to think twice before spending money on entertainment, insurance, self-care, coffee and even some groceries to make ends meet.
WHAT DO YOU MAKE BACK? LET US KNOW IN THE COMMENTS
On social media, an Aussie asked what people had stopped buying because of the “recent” price hike. What is one item that you no longer buy because of the ‘recent’ price increase? I go first – Salmon. $36-$40/kg? No thanks,” they wrote.
Australians are sharing the everyday things and luxuries they’ve stopped buying amid skyrocketing inflation, including red meat
Other hungry Aussies say they’ve stopped buying berries because they can’t justify the per-cup price
‘Berries. Granola from the store. Acai. snacks. Reduce meat to twice a week and buy cheaper meat,” one person commented.
“Any red meat. It’s definitely just an occasional purchase these days,” said another.
“I don’t buy meat anymore, I’m definitely not a vegetarian, but I just don’t feel like doubling the cost of my groceries. I miss cooking steaks,” wrote a third.
Many Aussies claimed they had cut grains, berries, seafood and crisps from their weekly shop.
Cereals and muesli. There’s no brand that’s affordable anymore, and it’s just not worth the money if you’re eating realistic amounts of it,” one person wrote.
“Blueberries, raspberries, blackberries and even strawberries now,” another commented.
A third agreed: “Strawberries, I can’t spend $6.50-$7.50 for a tub,”
‘Shrimps. I really loved throwing them in my 2 minute noodles to be totally fancy,” a fourth person wrote.
One person wrote that they couldn’t justify paying $8 for a bag of chips, while another agreed: “Be ahead of me, absolutely beyond what they’re worth.”
“Everything is so expensive now,” added another.
Many said they have switched to making their own coffee at home and are refusing to buy take-out coffee from a café
A visit to the pub for something to eat and a beer has become too expensive for some Australians as the cost of living continues to rise
Budgeters are also skimping on dining out and brunching with friends because the price of avocado on toast just “isn’t worth it anymore”
Other frugal Aussies said they ditched discretionary spending, including dining out, insurance, subscriptions and beauty treatments.
“Private health insurance, all meal delivery services, Friday drinks at a bar, buying cases of wine or fancy spirits, cutting back on pub meals,” one person commented.
Brunch and cafe food. Eggs, bread and avo for $25+. Not worth more,” wrote a second person.
Pub food. Loved a schnitzel, but paying $30 for a schnitzel is insane,” a third added.
“Last time I went to a cafe, lunch alone cost $28. Two coffees, lunch, cake now costs me almost $50. Way too high for me to treat myself,” another person commented.
“I stopped bleaching my hair and also learned how to do my own nails and lash lifts. what was once my regular self-maintenance has now become a luxury I can’t afford,” added a fourth.
“We got rid of all the subscriptions that we don’t use every day. Say goodbye to Netflix and Prime… quit our gym memberships too,” another person wrote.
Some Aussies wrote that inflation has affected the price of takeaway coffee, forcing them to make their own at home.
‘I make coffee at home for next to nothing. Buying a cup of coffee is now a treat,” one person commented.
“Ice flavored coffee. I used to grab them when I was out, but when most places started charging $8 I couldn’t justify it,” a second person added.
The cost of living crisis has gripped the country despite the Reserve Bank’s (pictured) attempt to curb inflation by raising interest rates for the 12th time in just 13 months
Another claimed that the Reserve Bank’s decision to raise interest rates means there is “not much left to give up.”
“Impossible to name just one item,” they wrote.
Steak, roast beef, leg of lamb, biscuits, some insurance, haircuts, clothes and shoes, manicures, makeup, birthday gifts, car service, car wash, day trips, dining out, takeout, streaming services, soda, cheese.
“After today’s RBA decision (Australia), there’s not much left to give up.”
On Tuesday, the Reserve Bank of Australia raised interest rates by a further 25 basis points – its 12th hike in just over a year.
The cash rate has now risen to an 11-year high of 4.1 percent and will add $97 to monthly payments on a typical $600,000 mortgage, raising fears of a recession.
RBA Governor Philip Lowe said inflation was still too high after April’s monthly reading showed inflation rose from 6.3 percent to 6.8 percent.
“Inflation in Australia has peaked but is still too high at 7 percent and will take some time to get back into target range,” he said in a statement Tuesday.
The cost of groceries at Coles and Woolworths rose by 10.4 percent and 8.7 percent respectively in April, research shows.
RBA Governor Philip Lowe (pictured) said inflation was still too high after April’s monthly reading showed inflation rose from 6.3 percent to 6.8 percent
The research from investment bank UBS found that fresh food prices increased by 9.9 percent after analyzing more than 60,000 supermarket products.
Nearly half of Australians claim they cannot afford to fill their carts below current grocery prices, while four in five are actively working to reduce their food costs.
Annual food inflation rose to 6.8 percent in April, down 9.2 percent, but dairy prices and bread/cereal prices still rose 14.9 percent and 11.8 percent, respectively.
Foods were the main contributor to annual food inflation at 11.7 percent, followed by dairy products at 14.5 percent and bread and grain prices at 11.4 percent.
WHAT AUSSIES RETURN
Steak in a pub
Subscription streaming services
Any coffee that isn’t homemade or $1 from 7-Eleven.